Gold prices climb on a weaker dollar but remain on track for their worst monthly loss since 2023. Key technical and economic factors ahead.
Gold prices edged higher in early Asian trade on the prospect of a December Fed rate cut after the U.S. personal consumption expenditure data came in line with expectations.
Resistance at the 20-Day MA and bearish candlestick patterns suggest gold's downtrend may extend, with key support levels at 2,537 and further at 2,470.
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Gold faces pressure from a rising dollar and muted demand, while inflation data clouds the Fed's dovish pivot. Will gold's safe-haven appeal hold?
Hang Seng Index falls 1.08% as US tariff threats weigh on sentiment, while Nikkei rises on Fed rate cut bets and ASX 200 hits a record high.
Gold fell in early Asian trading as prices rebounded slightly overnight on a weaker U.S. dollar but trimmed gains after U.S. data showed stalled inflation progress, UOB analysts say in a commentary.
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.