Gold evolution in a chaotic political situation
Updated
🌼Gold price trades in a narrow range as investors digest tensions in the Middle East. Fed policymakers see interest rates as sufficiently restrictive due to higher US Treasury yields.
🌼Gold prices jumped 6% in the past week, primarily due to the Israel-Hamas war. Economists at ANZ Bank analyze the yellow metal’s outlook.
🌼While the Israel-Hamas war will boost haven flows towards Gold, our positive view on prices hinges on the Fed rate cycle coming to an end. This will lead to lower US bond yields, reducing the opportunity cost of Gold.
🌼Gold has broken through the trendline. The upward trend is much more obvious.
🌼Scalping BUY GOLD 1915-1917
🌼Gold prices jumped 6% in the past week, primarily due to the Israel-Hamas war. Economists at ANZ Bank analyze the yellow metal’s outlook.
🌼While the Israel-Hamas war will boost haven flows towards Gold, our positive view on prices hinges on the Fed rate cycle coming to an end. This will lead to lower US bond yields, reducing the opportunity cost of Gold.
🌼Gold has broken through the trendline. The upward trend is much more obvious.
🌼Scalping BUY GOLD 1915-1917
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