Urgent: Gold continues to soar and hits its highest level in more than two months
Gold prices rose for the third consecutive session on Tuesday, reaching their highest levels in more than two months, as investors focused on upcoming U.S. inflation data in search of new signs regarding the path of interest rates in the United States.
Spot gold increased by 1% to $4,432.74 per ounce by, after earlier touching its highest level since June 5. U.S. gold futures also rose by 1.7% to $4,492.60 per ounce.
Tony Sycamore, a market analyst at IG, said that this upward wave is driven by several factors, including fear of missing out among investors who did not take advantage of the previous pullback to the $4,000 level, along with short-covering by speculative accounts, and the return of investment flows seeking safe havens.#SheinToStartHKIPOBookbuildingAsSoonAsNextWeek #BlackRockCanadaLaunchesBitcoinLinkedETF #SouthKoreaTopCourtProposesCryptoFreeze #TrumpDemandsCompensationFromIran #BarrickMiningFalls8% $TRUMP
$XAU
Gold prices rose for the third consecutive session on Tuesday, reaching their highest levels in more than two months, as investors focused on upcoming U.S. inflation data in search of new signs regarding the path of interest rates in the United States.
Spot gold increased by 1% to $4,432.74 per ounce by, after earlier touching its highest level since June 5. U.S. gold futures also rose by 1.7% to $4,492.60 per ounce.
Tony Sycamore, a market analyst at IG, said that this upward wave is driven by several factors, including fear of missing out among investors who did not take advantage of the previous pullback to the $4,000 level, along with short-covering by speculative accounts, and the return of investment flows seeking safe havens.#SheinToStartHKIPOBookbuildingAsSoonAsNextWeek #BlackRockCanadaLaunchesBitcoinLinkedETF #SouthKoreaTopCourtProposesCryptoFreeze #TrumpDemandsCompensationFromIran #BarrickMiningFalls8% $TRUMP
$XAU