Gold's Rise: Defying the Odds Amid DXY Strength and Inflation..

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Despite the US dollar's ascent and lingering uncertainty over US inflation, gold prices have surged for several reasons. Firstly, gold's status as a safe haven asset draws investors seeking stability amid economic turbulence. Secondly, persistent concerns regarding inflation, regardless of its trajectory, prompt investors to hedge their portfolios with gold. Thirdly, low interest rates reduce the opportunity cost of holding non-interest-bearing assets like gold, making it more attractive. Fourthly, technical factors and market sentiment contribute to short-term price fluctuations, further driving up gold prices. Lastly, global economic uncertainty, including geopolitical tensions and trade disputes, bolster gold's appeal as a reliable store of value. In essence, while conventional wisdom might suggest a strong dollar would suppress gold prices, the metal's intrinsic qualities and broader market dynamics often counteract such effects, leading to significant price increases despite prevailing circumstances.

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According to the MW wave system/strategy, our target for XAUUSD is fib -1.382, which suggests a potential rise to around $2400. However, it's essential to stay cautious due to the high volatility in the market. Keeping a close eye on fluctuations and adhering to risk management strategies is crucial for navigating this environment safely. Let's proceed with vigilance and ensure prudent decision-making to safeguard our investments.

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Gold prices reach their highest levels and exceed $2,395

Gold prices are witnessing strong increases during the last global trading week, today, Friday, and gold reached its highest levels ever, as gold prices rose during the past four weeks by 10.8% and by 17.64% during the past 12 months, supported by the decline in US bond yields despite the... The dollar index rose, but the worsening geopolitical tensions in the Middle East between Israel and Iran boosted demand for gold as it is a safe haven.

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