Gold price rises as traders remain cautious amid concerns about increasing Middle Eastern tensions.
The gold price has recovered from recent losses, trading at $2,370 per troy ounce during the Asian session on Thursday. The safe-haven yellow gold gains ground as traders remain cautious despite rising geopolitical tensions in the Middle East.
Jordan’s Foreign Minister, Ayman Safadi, warned that Israeli reprisal for Iranian strikes could expand the situation across the region.
According to Reuters, Jordan’s Foreign Minister Ayman Safadi indicated in an interview published by state media on Wednesday that Israeli retribution to Iranian strikes could Gold Price Forecast: XAUUSD rebounds on market caution, aiming for $2,400.
The gold price rises as traders remain cautious amid concerns about increasing Middle Eastern tensions.
Jordan’s Foreign Minister, Ayman Safadi, warned that Israeli reprisal for Iranian strikes could expand the situation across the region.
The US dollar’s decline has boosted demand for gold.
The US dollar’s decline has boosted demand for yellow metal.
The gold price has recovered from recent losses, trading at $2,370 per troy ounce during the Asian session on Thursday. The safe-haven yellow gold gains ground as traders remain cautious despite rising geopolitical tensions in the Middle East.
According to Reuters, Jordan’s Foreign Minister Ayman Safadi indicated in an interview published by state media on Wednesday that Israeli retribution to Iranian strikes could Mester acknowledged on Wednesday that inflation had outpaced forecasts. She remarked that the Fed needs more assurance before affirming the sustainability of 2% inflation.
Furthermore, Fed Chair Jerome Powell stated on Tuesday that recent data show minimal progress in inflation this year, implying that it will take longer to meet the 2% target. This statement could imply a hawkish perspective on the Fed’s impending monetary choices. Higher interest rates may reduce the demand for non-yielding assets such as XAU.
