Gold Price (XAU/USD) hovers around $2,500 during the early Asian session on Tuesday.
Gold Price trades flat near $2,500 in Tuesday’s early Asian session. Fed’s dovish remarks and rate-cut bets underpin the Gold price. Easing geopolitical risks in the Middle East might cap the upside for XAU/USD. Gold Price hovers around $2,500 during the early Asian session on Tuesday. The rising expectation of the interest rate cut by the Federal Reserve in September and further US dollar weakness are likely to underpin the precious metal in the near term.
Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders.
Commodities XAUUSD Macroeconomics
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
XAU/USD Price Forecast: Gold price holds its ground after Fed decisionOn Wednesday, the XAU/USD rose to $2,440 and held its ground after the widely anticipated Federal Reserve (Fed) decision.
Read more »
Gold Price Forecast: XAU/USD holds steady above $2,450 on positive Retail Sales dataGold price (XAU/USD) flat lines near $2,455 during the early Asian session on Friday.
Read more »
Gold Price Forecast: XAU/USD holds on to modest gains above $2,450Spot Gold trades with modest gains in the American afternoon, having experienced some early volatility.
Read more »
Gold Price Forecast: XAU/USD holds above $2,450 ahead of US CPI dataGold price (XAU/USD) trades with mild gains near $2,465 during the early Asian session on Wednesday.
Read more »
Gold Price Forecast: XAU/USD stable above $2,500 and looking for fresh record highsSpot Gold trades near a record high of $2,509.80 achieved at the beginning of the week, helped by sluggish US Dollar demand.
Read more »
Gold Price Forecast: XAU/USD jumps above $2,400 amid a risk-averse environmentGold price (XAU/USD) attracts some buyers around $2,410, snapping the three-day losing streak during the early Asian session on Monday.
Read more »