Gold’s Price Trajectory Hinges on Ongoing Trade Talks
As the week started, gold registered modest gains as the dollar weakened, Fed rate cut chances increased and uncertainties persisted in the trade relations between the U.S. and its major trading partners. The dollar index stumbled to its lowest level in years; it was last seen at this level back in the initial months of 2022. When the USD weakens, international buyers of gold are boosted because they pay less to acquire bullion. This increases the safe haven appeal of owning gold since the opportunity cost of such an investment is reduced. Markets have also intensified their expectations about an…
