Gold News – 21.Nov.2024
Gold News
Gold Rally: Gold rose above $2,670 per ounce on Thursday, marking its fourth consecutive session of gains as geopolitical tensions drove safe-haven demand.
Geopolitical Factors:
Ukraine launched Western-supplied long-range weapons, escalating tensions with Russia.
President Putin expanded Russia’s nuclear doctrine, heightening global concerns.
The US vetoed a UN resolution for a Gaza ceasefire, fueling worries over the Middle East conflict.
Federal Reserve Outlook: Markets remain focused on Fed comments for interest rate guidance, with a slight majority still expecting a 25bps rate cut in December, which could favor gold by lowering its opportunity cost.
Author : Arman Shaban
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