Gold prices are expected to increase this week.

Oct 12, 2023

XAUUSD The price of gold is strengthening after reaching a low point over several months, now reaching a high point in two weeks.

The metal is receiving support from geopolitical tensions, decreasing bond yields, and a weaker US dollar.

The upcoming US CPI report may provide new information about the Federal Reserve's plans for interest rate hikes and potentially give further momentum to the gold market.

Oct 12, 2023

Note

The price of gold (XAU/USD) continues to extend its recent impressive rebound from the $1,810 region, which was a seven-month low reached last week. It is now reaching a new high for the past two weeks as we enter the European session on Thursday.

With this latest upward movement, the price of gold has now regained more than 30% of the losses it experienced in September. Interestingly, this positive trend seems to be unaffected by the generally positive sentiment in the stock markets.