Home Business News Strong gold prices face busy week

Gold prices continued their ascent, extending two consecutive weeks of gains to reach their previous peak for October.

Gold benefited from a market consensus that the Federal Reserve has largely concluded its rate hikes, with increasing expectations of a rate cut in the second quarter of next year.

Additionally, a weaker US dollar, sliding US yields and a slowing global economy are enhancing gold’s appeal as a safe haven asset.

This week’s US economic data, particularly on GDP growth and inflation, could affect sentiment and, consequently, gold prices.

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