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Gold closes the week around $4,055 per ounce (approximately €116.50/g for 24-karat), posting an intraday decline of roughly 1% driven by profit-taking. Despite the daily slowdown, the weekly performance remains solid with an overall gain exceeding 4%, supported by a weaker US dollar and the recent US elections. Over the medium term, the precious metal continues its consolidation phase: following all-time highs above $5,600 reached earlier this year, prices are feeling the pressure of the Federal Reserve’s restrictive stance on interest rates, while still maintaining a robust floor above the psychological $4,000 threshold thanks to strategic central bank purchases and geopolitical hedging.

[Source: Trading Economics]

A buying rush on the precious metal accelerates with gains exceeding 2%, pushing prices above the psychological threshold of $4,100 per ounce (approximately €118 per gram). Driving the surge are a weakening dollar and persistent international geopolitical tensions, which continue to fuel demand for safe-haven assets. Lingering inflationary concerns and anticipation surrounding upcoming central bank interest rate decisions also play a key role, prompting investors to hedge their portfolios. According to analysts, the primary trend remains distinctly bullish as long as global macroeconomic uncertainty persists.

[Source: Euroummus]

Gold is trading in a cautious holding pattern, hovering on international markets around the $3,900–$4,000 per ounce range as investors await the outcome of the U.S. midterm elections. The congressional elections mark a pivotal turning point for the balance of power in Washington: the prospect of a divided government could restrict fiscal spending leeway, helping to curb inflationary pressures and bond yields. Conversely, a clear majority risks reigniting the deficit and weighing on the dollar—a dynamic that historically serves as a catalyst for the ultimate safe-haven asset. Caught between Federal Reserve prudence on interest rates and lingering geopolitical tensions, bullion awaits the verdict at the polls to determine the direction of its next rally.

[Source: Ing.com]