Gold News – 25.Nov.2024
Gold News
Gold Pullback: Gold fell below $2,700 per ounce on Monday, experiencing a technical pullback after a sharp decline from $2,720 to $2,658, following last week’s 6% rally driven by safe-haven demand amid escalating Russia-Ukraine tensions.
Geopolitical Tensions: Putin signaled potential use of a new missile following Ukraine’s deployment of US and UK-made weapons on Russian soil.
Weaker Dollar Impact: Gold also gained from a weaker dollar after U.S. President-elect Donald Trump nominated hedge fund manager Scott Bessent as Treasury Secretary, calming fears of aggressive trade policies.
Focus on Fed Data: Investors are watching the Fed’s November meeting minutes, PCE inflation data, and other US economic indicators to assess future interest rate trends.
Author : Arman Shaban
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