Gold Rises and WTI Crude Gains.
Dec 19 at 13:44
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Membro Desde Dec 14, 2024
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Dec 19 at 13:44
KEY HIGHLIGHTS
Gold Rises to $2,620 Amid Global Uncertainty.
Silver Hits 3-Month Low at $29.50.
WTI Crude Gains on Inventory Decline..
Natural Gas Jumps 2.5% on Cold Weather Outlook.
INTRODUCTION
Gold prices continued their recovery from a one-month low, rising to $2,620 amid a risk-off sentiment fueled by the Federal Reserve’s hawkish stance. Simultaneously, West Texas Intermediate (WTI) crude oil posted modest gains, approaching $69.50, supported by a decline in U.S. crude inventories and a resilient demand outlook. Here’s a comprehensive breakdown of the market movements and technical insights.
Gold Market Overview
Gold (XAU/USD) prices climbed to $2,620 during Thursday’s early European session, marking a fresh daily high of $2,622. The precious metal benefited from haven flows as geopolitical tensions and trade concerns grew following the Federal Reserve’s hawkish 25-basis-point rate cut. This shift in risk sentiment underscores investors’ preference for gold as a safe-haven asset.
Key Drivers for Gold
Federal Reserve Policy: The Fed’s December rate cut and signals of a slower pace of future cuts bolstered U.S. Treasury yields, indirectly supporting the U.S. dollar. However, gold’s recovery persisted despite the dollar holding near a two-year high.
Geopolitical Risks: Ongoing trade tensions and rising geopolitical uncertainties drove demand for gold, cementing its appeal among risk-averse investors.
Technical Sentiment: Despite the bullish recovery, caution is warranted due to resistance near $2,622 and strengthening U.S. Treasury yields.
Technical Analysis
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Gold Rises to $2,620 Amid Global Uncertainty.
Silver Hits 3-Month Low at $29.50.
WTI Crude Gains on Inventory Decline..
Natural Gas Jumps 2.5% on Cold Weather Outlook.
INTRODUCTION
Gold prices continued their recovery from a one-month low, rising to $2,620 amid a risk-off sentiment fueled by the Federal Reserve’s hawkish stance. Simultaneously, West Texas Intermediate (WTI) crude oil posted modest gains, approaching $69.50, supported by a decline in U.S. crude inventories and a resilient demand outlook. Here’s a comprehensive breakdown of the market movements and technical insights.
Gold Market Overview
Gold (XAU/USD) prices climbed to $2,620 during Thursday’s early European session, marking a fresh daily high of $2,622. The precious metal benefited from haven flows as geopolitical tensions and trade concerns grew following the Federal Reserve’s hawkish 25-basis-point rate cut. This shift in risk sentiment underscores investors’ preference for gold as a safe-haven asset.
Key Drivers for Gold
Federal Reserve Policy: The Fed’s December rate cut and signals of a slower pace of future cuts bolstered U.S. Treasury yields, indirectly supporting the U.S. dollar. However, gold’s recovery persisted despite the dollar holding near a two-year high.
Geopolitical Risks: Ongoing trade tensions and rising geopolitical uncertainties drove demand for gold, cementing its appeal among risk-averse investors.
Technical Sentiment: Despite the bullish recovery, caution is warranted due to resistance near $2,622 and strengthening U.S. Treasury yields.
Technical Analysis
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