Commodities Analysis by Investing.com (Damian Nowiszewski) covering: XAU/USD, Gold Futures. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
For less than $8 a month, InvestingPro's Fair Value tool helps you find which stocks to hold and which to dump at the click of a button, buoyed by recent gains, is once again targeting the historical peak of $2,520 per ounce. The current momentum strongly favors bulls, who are positioned to drive prices higher and sustain the long-term uptrend.potential interest rate cuts by the Federal Reserve in September with expectations of a reduction of up to 50 basis points.
Significant inflows into gold ETFs, with July's investments reaching $3.7 billion—the highest since April 2022. These funds now manage approximately $246 billion in total assets.Gold prices are rising as interest rates and bond yields decline. As it is a non-yielding asset, gold benefits from lower rates, supporting sustained demand and maintaining its long-term uptrend.
If gold breaks through this resistance, the next key target will be the psychological barrier of $2,600. Should prices experience a rebound, the demand zone between $2,400 and $2,430 will likely become the focus for any potential correction.This article is written for informational purposes only; it does not constitute a solicitation, offer, advice, counsel or recommendation to invest as such it is not intended to incentivize the purchase of assets in any way.
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