Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Precious Metal»Gold (XAU) Daily Forecast: Oversold Metal Triggers Bullish Rebound, Eyes on $2,750 Target
    Precious Metal

    Gold (XAU) Daily Forecast: Oversold Metal Triggers Bullish Rebound, Eyes on $2,750 Target

    October 24, 20241 Min Read


    Currently, gold is hovering around the $2,728 level, stabilizing as political and economic uncertainties temper further losses.

    U.S. Treasury Yields and Dollar Strength Impact Gold

    The U.S. dollar continues to strengthen, bolstered by rising Treasury bond yields, which hit their highest levels in three months. This dynamic led to Wednesday’s profit-taking in gold, despite ongoing political uncertainty ahead of the U.S. presidential election on November 5.

    The dip in gold prices comes as traders reassess the likelihood of smaller interest rate cuts by the Federal Reserve.

    According to the CME Group’s FedWatch Tool, traders estimate a 90% chance of a 25-basis-point rate cut by the Fed in November. Higher yields generally reduce the appeal of gold, as investors flock to income-generating assets like bonds.

    As a result, gold is under pressure, with a strong dollar adding to the metal’s challenges.

    Geopolitical and Economic Uncertainty Offer Support

    Despite the headwinds, gold remains supported by geopolitical tensions and economic uncertainty. The upcoming U.S. election is raising concerns over future inflation and fiscal deficits, especially with potential tariff increases under different administrations.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Le Mexique champion de la Gold Cup

    Precious Metal

    Kincora Copper demande la suspension de la cotation

    Precious Metal

    Ontario funds two miners aiming to boost critical mineral recoveries

    Precious Metal

    «Une ancienne pièce de 20 francs peut valoir aujourd’hui jusqu’à 500 euros»

    Precious Metal

    les Lionnes accrochent la Zambie au bout du suspense (2-2) , H24info

    Precious Metal

    Gold prices soar over Rs 1,100 this week amid US tariff deal uncertainties | MorungExpress

    Precious Metal
    Leave A Reply Cancel Reply

    Top Picks
    Stock Market

    Buy or sell: Sumeet Bagadia recommends three stocks to buy on Monday — August 12

    Commodities

    The Commodities Feed: Palladium sanction concern | articles

    Stock Market

    Turning AI vision to reality for utilities

    Editors Picks

    Morning Briefing: Evan Longoria Eyeing Retirement

    July 18, 2024

    iciHaiti – Canada : Towards a strengthening of agricultural cooperation

    October 13, 2024

    2 No-Brainer Dividend Stocks to Buy With $2,000 Right Now

    May 12, 2025

    There Might Be Water on the Surface of the Metal Asteroid Psyche

    August 22, 2024
    What's Hot

    Transcript : CPI Property Group, 2024 Earnings Call, Apr 07, 2025

    April 7, 2025

    Silver (XAG) Daily News: Industrial Demand and Rate Cuts Fuel 40% Yearly Surge

    October 24, 2024

    Evergrande Property Services Group affiche un revenu net de 1 032 millions de RMB pour l’année fiscale

    March 31, 2025
    Our Picks

    Future finance: What you need to know about investing in cryptocurrency now

    February 13, 2025

    ENGIE et NHOA Energy posent la première pierre d’un projet de 400 MWh en Belgique

    May 15, 2025

    After bitter divorce, Nigerian pastor, ex-wife battle over £1.5 million UK properties

    July 28, 2024
    Weekly Top

    Ontario funds two miners aiming to boost critical mineral recoveries

    July 6, 2025

    Next Cryptocurrency to Explode, 6 July — Story, Alchemy Pay, Injective, MX Token

    July 6, 2025

    Ukraine imposes sanctions on Russian financial, cryptocurrency schemes

    July 6, 2025
    Editor's Pick

    GOLD ELITE GROUP – Le Soleil de la Floride

    January 28, 2025

    British Diver Tom Daley Tearfully Announces Retirement After 2024 Olympics

    August 13, 2024

    Appeal against important court ruling about cryptocurrency in South Africa – MyBroadband

    May 31, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.