⚡️Gold prices (XAU/USD) surge, trading at $1,929.20, reflecting a gain of over 3% amidst the escalating Israel-Palestine conflict. Shift from aerial to ground operations in Gaza by Israel intensifies geopolitical tensions, bolstering safe-haven assets.
⚡️Deteriorating US Consumer Sentiment and dovish remarks from Philadelphia Fed President Patrick Harker apply pressure to US Treasury yields. Gold price (XAU/USD) is sustaining an outstanding rally on Friday as geopolitical tensions rise in the conflict between Israel and Palestine. Traders seeking safety flock towards the yellow metal amid times of uncertainty, while the Greenback (USD) is also advancing. The XAU/USD is trading at $1,929.20 a troy ounce, gains more than 3%, after bouncing from daily lows of $1,868.69
⚡️The daily chart shows that the price of gold is increasing rapidly, breaking the trendline and heading towards the nearest resistance area, the 1945 price zone. Given the tense war situation, gold could break this threshold to rise to the 2000 level.
⚡️Deteriorating US Consumer Sentiment and dovish remarks from Philadelphia Fed President Patrick Harker apply pressure to US Treasury yields. Gold price (XAU/USD) is sustaining an outstanding rally on Friday as geopolitical tensions rise in the conflict between Israel and Palestine. Traders seeking safety flock towards the yellow metal amid times of uncertainty, while the Greenback (USD) is also advancing. The XAU/USD is trading at $1,929.20 a troy ounce, gains more than 3%, after bouncing from daily lows of $1,868.69
⚡️The daily chart shows that the price of gold is increasing rapidly, breaking the trendline and heading towards the nearest resistance area, the 1945 price zone. Given the tense war situation, gold could break this threshold to rise to the 2000 level.
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Comment:
Investor sentiment has broadly returned to risk-on after last week's souring.
Comment:
the raging Israel-Hamas conflict might continue to benefit the Gold price.
Comment:
Gold price consolidates in a tight range around $1,920.00 as investors await the speech from Federal Reserve Chair Jerome Powell, which is scheduled for Thursday.
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