Monthly Archives: October 2024
41654156156Gold Rally Ahead of the U.S. Election
Written on October 29, 2024 at 5:32 am, by pumarketings
Market Summary As the U.S. election draws near, safe-haven assets are gaining traction, with gold rallying back to its all-time highs and the U.S. dollar hovering close to recent peaks. Historical trends indicate that the Japanese yen tends to attract strong safe-haven demand during election years, having outperformed the dollar, Swiss franc, gold, and U.S.Continue Reading
Gold Price Hold Steady Despite Easing Middle East Risk
Written on October 29, 2024 at 1:58 am, by pumarketings
Fundamental Analysis * Gold Resillience: Gold prices trimmed earlier losses and held steady despite reduced concerns about a larger conflict impacting safe-haven demand. Tensions in the Middle East eased after Israel refrained from targeting Iran’s oil and nuclear facilities in a recent strike, which saw Iranian leaders downplay its significance, despite Tehran’s threat of retaliation.Continue Reading
Yen Capitulate Amid Political Uncertainty
Written on October 28, 2024 at 5:12 am, by pumarketings
Market Summary Japan’s political landscape took centre stage this week after the Prime Minister called a snap election, following the ruling party’s loss of its parliamentary majority. This political uncertainty has led markets to believe the Bank of Japan may delay its next rate hike, causing the Yen to soften to a three-month low. Meanwhile,Continue Reading
