Commodities Analysis by Investing.com (Damian Nowiszewski) covering: Gold Spot US Dollar, US Dollar Index Futures, Gold Futures, SPDR® Gold Shares. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
However, inflows into Gold ETFs have maintained an upward trend.’s remarkable surge in late September, pushing just shy of $2,700 per ounce, has hit a speed bump as October kicked off with a correction phase.However, this dip could present an opportunity for long-term investors to join the uptrend at a more favorable entry point.As the month begins, gold is experiencing its first significant pullback since July’s rally, driven by the U.S. dollar’s resurgence and rising bond yields.
Over the longer term, however, gold demand is expected to rise as the Fed gradually loosens monetary policy in the coming quarters, regardless of the pace. October’s data will be critical in assessing whether this demand will persist or if lower prices will tip the balance in favor of sellers.As mentioned earlier, gold is currently testing key support levels, with prices hovering near $2,570 per ounce.
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