Gold News – 28.Oct.2024
Gold News
Gold Decline: Gold fell below $2,730 per ounce on Monday as safe-haven demand eased after Israel’s restrained strikes on Iran, which avoided major sites like oil and nuclear facilities.
Market Focus: Investors are closely watching US economic data this week, including PCE inflation, Q3 GDP estimates, and payrolls, for insights into the Federal Reserve’s interest rate policy.
Interest Rate Impact: Lower interest rates make non-interest-bearing assets like gold more attractive.
Supporting Factors: Ongoing uncertainties around the US election and central bank policies continue to provide some support for gold.
US Election Impact: The upcoming US presidential election on November 5, featuring candidates Donald Trump and Kamala Harris, adds another layer of uncertainty, with both candidates proposing differing policies that could sway gold markets.
Author : Arman Shaban
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