Gold Near 3-Week High On Softer US Dollar, Geopolitical Concerns
Gold Near 3-Week High On Softer US Dollar, Geopolitical Concerns . (MENAFN - Live Mint)  Nov 25 - Gold prices ticked higher on Monday, nearing a three-week high, supported by a weaker U.S. dollar and safe-haven demand amid rising geopolitical tensions, as investors ...
América - MenaFN
(MENAFN- Live Mint) Nov 25 - Gold prices ticked higher on Monday, nearing a three-week high, supported by a weaker U.S. dollar and safe-haven demand amid rising geopolitical tensions, as investors awaited more data to gauge the U.S. Reserve's policy outlook.

FUNDAMENTALS

* Spot gold rose 0.2% to $2,719.19 per ounce as of 0014 GMT and was set for its sixth consecutive session of gains.

* U.S. gold futures edged 0.3% higher to $2,721.10.

* The dollar dipped 0.5%, boosting gold's appeal for holders of other currencies. The benchmark 10-year Treasury yields also declined.

* Hezbollah fired heavy rockets at Israel on Sunday, following an Israeli airstrike that killed at least 29 in Beirut. There were reports of damage near Tel Aviv.

* Meanwhile, in Russia two Ukrainian missiles and 27 drones were destroyed over the Kursk region, the governor of the region bordering Ukraine said.

* Bullion tends to shine during periods of geopolitical tension, economic risks and in low interest rate environment.

* Markets currently estimate a 51% chance of a 25-basis-points Fed rate cut in December, according to the CME Group's FedWatch Tool.

* Data on Friday showed that U.S. consumer sentiment ticked up for a fourth straight month in November, led by a big upswing in sentiment among Republicans following Donald Trump's victory.

* Key events this week include the Fed's November FOMC meeting minutes, GDP data and core PCE figures, all of which could provide further cues into the rate outlook.

* Gold premiums in India dipped last week as rising local prices cooled demand, while bullion interest in China and other Asian markets stayed muted.

* Spot silver gained 0.2% to $31.39 per ounce, platinum rose 0.34% to $966.88 and palladium added 0.8% to $1,017.28.
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https://menafn.com/1108920786/Gold-Near-3-Week-High-On-Softer-US-Dollar-Geopolitical-Concerns
2024-11-24
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(MENAFN - Live Mint)  Nov 25 - Gold prices ticked higher on Monday, nearing a three-week high, supported by a weaker U.S. dollar and safe-haven demand amid rising geopolitical tensions, as investors ...
Gold Near 3-Week High On Softer US Dollar, Geopolitical Concerns