The gold market has shown itself to be resilient on Friday, as the market continues to see a lot of volatility, as the market is pressuring the overall resistance barrier.
More tensions around the globe, coupled with expectations of lower rates and a weaker dollar, could lead to higher gold prices.
Anna Golubova is the Producer for Kitco News. With more than ten years of experience in media, she has covered a range of topics, focusing on economy and politics.
DXY outlook remains bearish short-term, but traders should brace for volatility as markets process conflicting economic data.
Long-run inflation expectations declined from 3.0% in June to 2.9% in July.
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.
Bullish outlook for gold in short term as market moves towards lower interest rates, potentially setting new record highs before year-end
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
With gold hitting $2,424, traders are watching for signs of correction or potential further gains driven by economic data.
Gold surged to 2,425 today, maintaining bullish momentum. A strong close could push prices towards the 2,450-record high, with the next potential resistance at 2,431.
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.
U.S. stocks traded mostly lower toward the end of trading, with the Nasdaq Composite dipping 2% on Thursday.