{"id":15792,"date":"2024-11-19T06:55:53","date_gmt":"2024-11-19T06:55:53","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=15792"},"modified":"2024-11-19T06:55:53","modified_gmt":"2024-11-19T06:55:53","slug":"gold-rises-to-one-week-high-as-dollar-eases","status":"publish","type":"post","link":"https:\/\/www.global-vtrader.com\/en\/analysis\/gold-rises-to-one-week-high-as-dollar-eases\/","title":{"rendered":"Gold Rises to One-Week High as Dollar Eases"},"content":{"rendered":"\n<p class=\"has-medium-font-size\"><strong>Key Points:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Gold rose to $2,625.54, up 2.5% since 16 November, supported by dollar softness and geopolitical risks.<\/li>\n\n\n\n<li>Technical indicators show sustained bullish momentum, with MACD divergence and aligned moving averages confirming strength.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p>Gold prices extended their upward trajectory, climbing to a high of $2,625.54 on Tuesday, as shown in the attached chart.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2024\/11\/WhatsApp-Image-2024-11-19-at-14.29.57-1024x453.jpeg\" alt=\"\" class=\"wp-image-15793\" style=\"width:1450px;height:auto\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><em>Picture: Gold rides bullish momentum as market uncertainty supports safe-haven demand, as seen on the <a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\" title=\"\">VT Markets app<\/a>.<\/em><\/p>\n\n\n\n<p>The price closed at $2,622.64, marking steady gains from last week\u2019s low of $2,559.52.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Gold hits one-week high on softer dollar; markets await Fed cues <a href=\"https:\/\/t.co\/owFeZuW9ND\">https:\/\/t.co\/owFeZuW9ND<\/a> <a href=\"https:\/\/t.co\/XMNAuf7UDb\">pic.twitter.com\/XMNAuf7UDb<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/1858754600439775612?ref_src=twsrc%5Etfw\">November 19, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The rally reflects a combination of dollar weakness, <a href=\"https:\/\/t.co\/zFOVMkE6Of\">Middle Eastern conflict<\/a>, and strong bullish momentum in the market.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Weaker Dollar Boosts Bullion<\/h2>\n\n\n\n<p>The U.S. dollar&#8217;s retreat, attributed to profit-booking after <a href=\"https:\/\/t.co\/VvaaW1bN5m\">last week\u2019s strong rally<\/a>, made gold more affordable for buyers holding other currencies.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Fed Comments Key to Rate Outlook<\/h2>\n\n\n\n<p>Traders are closely watching Federal Reserve officials\u2019 comments this week for guidance on rate decisions at the December meeting.<\/p>\n\n\n\n<p>Markets are seeing a 58.8% probability of a 25-basis-point cut, with a 41.2% chance of rates remaining steady. Lower interest rates tend to support gold by reducing the opportunity cost of holding non-yielding assets.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>Tensions in Eastern Europe Support Safe-Haven Demand<\/strong><\/h2>\n\n\n\n<p><a href=\"https:\/\/t.co\/qjjnVXPPqW\">Russia\u2019s largest airstrike on<\/a> Ukraine in three months has amplified geopolitical risks, further supporting safe-haven assets like gold. Meanwhile, tight labour market conditions in the U.S. continue to sustain inflationary pressures, adding to the complexity of the Fed\u2019s rate outlook.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Cautious Outlook for Gold<\/h2>\n\n\n\n<p>Gold&#8217;s movement in the near term hinges on upcoming Fed commentary and market reactions to geopolitical developments.<\/p>\n\n\n\n<p>If the dollar stabilises or Fed commentary skews dovish, gold could test higher levels, though resistance near $2,650 may limit gains.<\/p>\n\n\n\n<p>For now, traders should monitor the interplay of dollar strength, interest rate expectations, and geopolitical risk for cues on bullion&#8217;s trajectory.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">Create your live VT Markets account<\/a>\u00a0and\u00a0<a href=\"https:\/\/myaccount.vtmarkets.com\/login\">start trading<\/a>\u00a0now.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold hits $2,625.54, supported by a softer dollar and steady momentum, as traders await Fed commentary on rate cuts. &#8211; vtmarkets.com<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[27],"tags":[7,46],"class_list":["post-15792","post","type-post","status-publish","format-standard","hentry","category-analysis","tag-gold","tag-precious-metals"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/15792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/comments?post=15792"}],"version-history":[{"count":0,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/15792\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/media?parent=15792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/categories?post=15792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/tags?post=15792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}