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Strong dollar pushes gold into correction: US data awaited
Gold saw a slight decline in today’s trading, with the dollar strengthening as a Federal Reserve rate cut becomes increasingly unlikely. The intentions of the U.S. Central Bank will become clearer in the coming days, when U.S. economic data are released.
[Source: Market Screener]
Silver once again near record levels
The white metal takes center stage again and is approaching the record of $54.5 per troy ounce. Despite the correction seen during today’s trading session, silver is still holding its key support at $50 per ounce.
[Source: Milano Finanza]
Gold at 3-Week Highs: Further Gains Possible as Rate-Cut Bets Increase
Gold prices are rising in today’s trading, with spot metal nearing the $4,200 per ounce mark. According to analysts, further increases are possible, especially amid growing bets on additional interest rate cuts by the Fed before the end of the year.
[Source: Trading view]
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