XAU/USD: Gold price exceeds $1,980 in the second weekly win as the conflict escalates in the Middle East
$BUSD GOLD
True, gold prices have seen an upward swing over the past two weeks, rising more than 7%. This increase is attributed to ongoing clashes between Israel and the Palestinian Hamas movement. Gold prices reached two-month highs above $1,000 per ounce, up 9.8% from previous levels.
Gold prices were also affected by Federal Reserve Chairman Jay Powell's speech, where he indicated no plans to raise interest rates at their November meeting. Gold is a non-yielding asset that often outperforms in geopolitical uncertainties and high interest rate environments.
#GOLD #USD #USA
$BUSD GOLD
True, gold prices have seen an upward swing over the past two weeks, rising more than 7%. This increase is attributed to ongoing clashes between Israel and the Palestinian Hamas movement. Gold prices reached two-month highs above $1,000 per ounce, up 9.8% from previous levels.
Gold prices were also affected by Federal Reserve Chairman Jay Powell's speech, where he indicated no plans to raise interest rates at their November meeting. Gold is a non-yielding asset that often outperforms in geopolitical uncertainties and high interest rate environments.
#GOLD #USD #USA