November 8, 2024 (Globalinvestorideas.com Newswire) Globalinvestorideas.com, a go-to platform for big investing ideas releases market commentary from Tito Iakopa,Commercial Director at Flow Community.
“Gold continued to retreat, showing some volatility. The market continues to react to the aftermath of the U.S. presidential election and the Federal Reserve’s quarter-point interest rate cut. The Fed’s decision triggered notable moves in Treasury yields, with a significant drop in the benchmark 10-year yield, accompanied by increased volatility in the dollar. Market participants may be cautious about the path of future rate cuts, which could intensify market volatility.
Despite short-term price fluctuations, the long-term outlook for gold could remain positive, supported by several key factors. Ongoing geopolitical tensions, particularly in the Middle East, have reinforced gold’s status as a safe-haven asset. In addition, the continued easing policies of several central banks offer further support for the precious metal. Protectionist policies, such as former President Trump’s emphasis on de-globalization, could also favor gold prices, as potential trade barriers and tariffs tend to negatively affect global economic stability.
This trend is evidenced by the continued strength of global gold ETFs, which have experienced six consecutive months of inflows, highlighting the strong demand fundamentals that continue to drive gold’s positive trajectory.”
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