Gold News – 08.Oct.2024
Gold News
Gold Prices: Gold prices remained stable at $2,639.45 per ounce, while US gold futures dipped 0.2% to $2,661.80.
Factors Affecting Gold: A stronger dollar and rising bond yields have put pressure on gold, but geopolitical tensions (e.g., Hezbollah’s rocket fire at Haifa) are supporting its safe-haven appeal.
Upcoming Data: Investors are awaiting the minutes of the latest Federal Reserve meeting, US CPI data on Thursday, and PPI figures on Friday for insights on interest rate directions.
Market Events: Several Federal Reserve officials are set to speak this week, which may influence market sentiment and policy expectations.
Other Metals: Spot silver fell nearly 1% to $31.40 per ounce, platinum declined 0.7% to $964.95, and palladium dropped 2.3% to $1,001.
China’s Economic Outlook: China remains confident in achieving its 2024 economic targets, with funding from the 2025 budget being brought forward to support various projects.
Author : Arman Shaban
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