Gold prices climbed to a record high above $2,900, driven by escalating trade tensions between the US and its trading partners, as well as persistent inflation concerns. Despite a strong dollar and rising bond yields, investors are seeking safety in the precious metal.
Despite bond yields and a strong dollar, gold's momentum continues due to geopolitical and inflation concerns.Today, it climbed above the $2900 mark for the first time ever, as it continues to close in on the $3K mark. The latest gains come on the back of presumably increased haven demand sparked by a further escalation in trade tensions between the United States and its major trade partners.
Gold has now broken through the 127.2% Fibonacci extension of its October-November correction at $2,859. If the rally continues, the next upside target lies at the 161.8% extension at $2,946. While gold’s bullish trend remains intact, traders should be mindful of potential near-term corrections given extreme RSI readings and evolving macroeconomic factors.Trump’s stance on trade tariffs has been a wildcard, both in his previous and current administrations. His early tariff threats spooked markets, prompting investors to seek refuge in safe-haven assets like gold.
Finance Markets GOLD INFLATION TRADE TENSIONS DOLLAR BOND YIELDS
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Over 900 Inmates Join Wildfire Fight in CaliforniaMore than 900 prison inmates are aiding in the fight against raging wildfires in Los Angeles, California, alongside over 7,500 other emergency personnel. While California has a long history of utilizing incarcerated firefighters, the practice remains controversial due to concerns over low pay and potential exploitation.
Read more »
SDG&E Shuts Off Power to 900 Customers Amid Santa Ana Winds and Brush FireSan Diego Gas & Electric proactively shut off power to nearly 900 customers in several East County communities to reduce the risk of wildfires as a Santa Ana windstorm swept through the region. This action comes as firefighters battled a small brush fire in Ramona that briefly threatened a home.
Read more »
Quinerly has 29, Blacksten 24 and No. 16 West Virginia women get program win 900JJ Quinerly scored 29 points, Kylee Blacksten added 24 and No. 16 West Virginia raced to an 89-59 win over Arizona State for the 900th win in program history. Jalyn Brown scored 12 points for the Sun Devils, who have lost five straight. Quinerly had 10 points as the Mountaineers hit 10 of 15 shots to race to a 28-9 lead after one quarter.
Read more »
Congo Fighting Leaves at Least 900 DeadFighting between Congolese government forces and Rwanda-backed rebels in Goma left at least 900 people dead, the U.N. health agency said Monday, raising the previously cited death toll. The M23 rebels are backed by some 4,000 troops from neighboring Rwanda and are the most potent of the more than 100 armed groups vying for control in Congo’s mineral-rich east.
Read more »
Foodborne illnesses kill more than 900 Americans each year, researchers findFoodborne illness costs Americans $75 billion annually in premature deaths, medical care and lost productivity, study finds.
Read more »
This Texas mental health program has a waitlist of 900 kidsDespite a long waitlist, the number of children served in the YES Waiver program has declined because of provider shortages.
Read more »