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Gold confirmed a bull flag breakout, setting the stage for further gains. Support at the 20-Day MA held, with potential upside targets of 2,724 and beyond.
Gold is moving towards the key resistance level at $2675 – $2685.
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
PALM BEACH, Fla., Oct. 15, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - In an recent article published by Skilliing.com regarding current Gold trends: “From ancient civilizations to modern-day investors, gold has consistently been sought after for its perceived stability and hedge against inflation and economic uncertainty. This enduring appeal has led to significant price movements over the years, with gold prices often mirroring broader economic trends. Understanding these dynamics is crucial for predicting future gold price movements and making informed investment decisions. According to experts, the gold price in October 2024 is expected to be influenced by several key factors. The ongoing geopolitical tensions, particularly in the Middle East, are likely to keep gold prices elevated. Additionally, the anticipation of US rate cuts in the third and fourth quarters of 2024 could further boost gold prices. With the current record already at $2,431.85, the next mileston
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.
Gold prices hover near $2,643 as a stronger U.S. dollar and weak Chinese data weigh on XAU/USD. Can gold break $2,650 resistance?
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.
Gold was steady in the early Asian session, supported by geopolitical tensions in the region.
It's a good time to invest in cyclicals. A few names from a list of 22V Research's Dennis DeBusschere stand out.
Strong dollar put pressure on gold and silver markets today.