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Breaking: Gold climbs to record highs around $3,060
Source Fxstreet
Prices of Gold rose to an all-time peak around the $3,060 mark per troy ounce on Thursday, following the downward trend in the US Dollar, mixed US yields, and rising uncertainty surrounding the White House's trade policy.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
The US Dollar (USD) recovered overnight after a brief dip on weaker ADP jobs data, with USD/JPY leading gains toward the key 155 resistance. Buying around the Tokyo fix and ongoing investment inflows into the US are keeping the pair supported, even as Japanese officials step up verbal warnings.
Gold trades near $4,195 in early Asian dealings, brushing up against the $4,200 mark as hopes for a U.S. shutdown-ending funding bill and a nearly 64% market-implied chance of a December Fed rate cut support XAU/USD, even as a divided Federal Reserve and upcoming policymaker speeches threaten to steady the dollar and cap bullion’s latest advance.
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