Monthly Archives: April 2024
Safe-Haven Surge Amid Rising Middle East Tensions
Written on April 19, 2024 at 6:39 am, by
Market Summary Gold surged past $2400 per troy ounce, hitting record highs driven by geopolitical tensions and global uncertainty before retracing as technical indicators signalled overheating, prompting profit-taking. Despite this, gold saw a remarkable 20% surge since mid-February, catching investors off guard amid talks of Federal Reserve interest rate cuts. Geopolitical tensions escalated as IranContinue Reading
Gold Surges On Escalating Middle East Tensions
Written on April 19, 2024 at 6:29 am, by
Market Summary Gold prices surged to near-record highs, driven by a subdued US Producer Prices Index, fueling expectations of Federal Reserve rate cuts and bolstering gold’s appeal as a safe-haven asset amidst escalating geopolitical tensions, notably between Israel and Iran. Meanwhile, the US Dollar initially stumbled following lower-than-expected PPI data but rebounded as bullish jobContinue Reading
Dollar Surges on CPI Beat, Gold Pressured
Written on April 19, 2024 at 6:29 am, by
Market Summary The Dollar Index surged on the back of robust inflation data, surprising investors and challenging expectations of an imminent rate cut. US Consumer Price Index (CPI) figures outpaced forecasts for the fourth consecutive month, reaching 3.5% over the 12 months to March. This unexpected inflationary pressure prompted a reevaluation of market sentiments regardingContinue Reading