Gold Futures Retrace Slightly but Stay Elevated Amid Geopolitical Tensions and Rate-Cut Optimism


US Rate-Cut Optimism:
The recent U.S. CPI data aligned with expectations, supporting the likelihood of a rate cut in December.
Lower interest rates make non-yielding assets like Gold more attractive, underpinning its rally.
Short-Term Outlook:
Bullish Factors:
Geopolitical risks provide a supportive floor for prices.
Market expectations of rate cuts are favorable for Gold.
Resistance:
The next major level to watch is $2,775–$2,780, which could act as a barrier if the bullish trend continues.
Support:
If retracements deepen, immediate support lies around $2,735 and stronger support near $2,700.
Trading Implications:
  • For Bulls: The elevated levels suggest maintaining positions while watching for a break above $2,775 to target $2,800.
  • For Bears: Look for potential corrections if prices breach support at $2,735, targeting $2,700 or lower.

Recent News

US Tech 100 Consolidates Below Resistanc...

July 10, 2025

Market Insights

US Tech 100 Surges from Double Bottom Fo...

April 08, 2025

Market Insights

DOW JONES bounce back after President Do...

October 13, 2025

Market Insights

Gold price stalls intraday recovery from...

November 26, 2024

Market Insights

Author

View All Author

Ana

Cross-Asset Analyst & Trainer

Read More

Varun Sharma

Senior Strategist

Read More

VJ Yadav

FX Strategist

Read More
Bot Window | Bot Window
Return

10:03 IST

© All Rights Reserved 2024