Gold price (XAU/USD) rallies to record highs in the $2,440s on Monday due to its safe-haven qualities as the geopolitical risk barometer rises a notch due to increased tensions in the Middle East.
Gold price rises on safe-haven demand after news of the President of Iran’s death ignites tensions in the region. Gold rises as a general fracturing of the world order drives central banks to stock up on the precious metal. A shift in expectations of when the Federal Reserve might cut interest rates further helps non-yielding Gold .
Technical Analysis: Gold price climbs parabolically Gold price rallies to new all-time highs above $2,440 on Monday, breaking out of the rising channel it has been in since May 2. The precious metal’s short-term trend is bullish, and more upside is expected given the old saying that “the trend is your friend.” XAU/USD 4-hour Chart The Relative Strength Index is overbought, however, indicating long-holders should not add to their positions.
XAUUSD SEO Technical Analysis Fundamental Analysis
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.
Gold Price Forecast: XAU/USD holds below $2,400 on Fed hawkish comments, eyes on geopolitical risksGold Price (XAU/USD) attracts some sellers around $2,385 on Monday during the early Asian trading hours.
Read more »
Gold Price Forecast: XAU/USD struggle with $2,330 extends, as focus shifts to Fed decisionGold price is looking to build on to the previous downside early Tuesday, as traders continue to take profits off the table in the lead-up to the US Federal Reserve (Fed) interest rate decision due on Wednesday.
Read more »
Gold Price Forecast: XAU/USD sellers keep sight on $2,223 and the Fed decisionGold price is catching a breather early Wednesday, having hit a four-week low at $2,285 on Tuesday.
Read more »
Gold Price Forecast: XAU/USD strives for direction as uncertainty over Fed rate cuts deepenGold price (XAU/USD) struggles for a direction in Wednesday’s London session.
Read more »
Gold Forecast: XAU/USD technical outlook remains bullish, Fed speakers eyedGold (XAU/USD) price continued to push higher this week and rose above $2,400 on Friday, gaining nearly 2% for the week.
Read more »
Gold Weekly Forecast: XAU/USD Bull Trend Refuses to QuitGold trades higher, seemingly impervious to the dollar’s strength and elevated US yields. Buoyed by safe haven appeal and central bank buying, XAU/USD uptrend persists
Read more »