XAU/USD soars above $1925 amid escalating Middle East tensions, dovish Fed
The post XAU/USD soars above $1925 amid escalating Middle East tensions, dovish Fed appeared on BitcoinEthereumNews.com. Gold prices (XAU/USD) surge, trading at $1,929.20, reflecting a gain of over 3% amidst the escalating Israel-Palestine conflict. Shift from aerial to ground operations in Gaza by Israel intensifies geopolitical tensions, bolstering safe-haven assets. Deteriorating US Consumer Sentiment and dovish remarks from Philadelphia Fed President Patrick Harker apply pressure to US Treasury yields. Gold price (XAU/USD) is sustaining an outstanding rally on Friday as geopolitical tensions rise in the conflict between Israel and Palestine. Traders seeking safety flock towards the yellow metal amid times of uncertainty, while the Greenback (USD) is also advancing. The XAU/USD is trading at $1,929.20 a troy ounce, gains more than 3%, after bouncing from daily lows of $1,868.69 XAU/USD approaches $2,000 as investors seek safe havens amidst geopolitical strife and deteriorating US Consumer Sentiment XAU/USD found dip buyers as Gold prices rose more than 3% on developments that Israel is shifting from air to ground operations in the Gaza strip, spurring fears the conflict could spill toward other regions in the Middle East. Consequently, safe-haven assets remain bid towards the weekend, with the non-yielding metal’s chances of hitting the $2,000 mark increasing. In the meantime, economic data from the United States (US) witnessed that Consumer Sentiment amongst Americans continues to deteriorate, according to the University of Michigan (UoM) October survey. Aside from this, Philadelphia Fed President Patrick Harker commented that no additional rate hikes “are likely” to be needed. Consequently, US Treasury bond yields decelerated, particularly the US 10-year Real Yields, which remain at 2.289%, falling seven basis points, following the footsteps of the 10-year benchmark note, yielding 4.629%, down 7 basis points. In the meantime, the US Dollar Index (DXY) advances 0.08% and sits at 106.66, usually a headwind for Gold prices, with both safe-haven, which generally correlates negatively, moving in tandem to the…
The post XAU/USD soars above $1925 amid escalating Middle East tensions, dovish Fed appeared on BitcoinEthereumNews.com.
Gold prices (XAU/USD) surge, trading at $1,929.20, reflecting a gain of over 3% amidst the escalating Israel-Palestine conflict. Shift from aerial to ground operations in Gaza by Israel intensifies geopolitical tensions, bolstering safe-haven assets. Deteriorating US Consumer Sentiment and dovish remarks from Philadelphia Fed President Patrick Harker apply pressure to US Treasury yields. Gold price (XAU/USD) is sustaining an outstanding rally on Friday as geopolitical tensions rise in the conflict between Israel and Palestine. Traders seeking safety flock towards the yellow metal amid times of uncertainty, while the Greenback (USD) is also advancing. The XAU/USD is trading at $1,929.20 a troy ounce, gains more than 3%, after bouncing from daily lows of $1,868.69 XAU/USD approaches $2,000 as investors seek safe havens amidst geopolitical strife and deteriorating US Consumer Sentiment XAU/USD found dip buyers as Gold prices rose more than 3% on developments that Israel is shifting from air to ground operations in the Gaza strip, spurring fears the conflict could spill toward other regions in the Middle East. Consequently, safe-haven assets remain bid towards the weekend, with the non-yielding metal’s chances of hitting the $2,000 mark increasing. In the meantime, economic data from the United States (US) witnessed that Consumer Sentiment amongst Americans continues to deteriorate, according to the University of Michigan (UoM) October survey. Aside from this, Philadelphia Fed President Patrick Harker commented that no additional rate hikes “are likely” to be needed. Consequently, US Treasury bond yields decelerated, particularly the US 10-year Real Yields, which remain at 2.289%, falling seven basis points, following the footsteps of the 10-year benchmark note, yielding 4.629%, down 7 basis points. In the meantime, the US Dollar Index (DXY) advances 0.08% and sits at 106.66, usually a headwind for Gold prices, with both safe-haven, which generally correlates negatively, moving in tandem to the…
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