{"id":133823,"date":"2024-10-02T08:47:43","date_gmt":"2024-10-02T08:47:43","guid":{"rendered":"https:\/\/kinesis.money\/?p=133823"},"modified":"2024-10-02T08:47:43","modified_gmt":"2024-10-02T08:47:43","slug":"gold-bounces-back-ath","status":"publish","type":"post","link":"https:\/\/kinesis.money\/es\/market-analysis\/gold-news\/gold-bounces-back-ath\/","title":{"rendered":"Gold Price News: Gold Bounces Back After Falling Below $2,640 an Ounce"},"content":{"rendered":"\n

Gold prices rose on Tuesday to recoup Monday\u2019s losses, as the markets digested a mixed set of economic data from the US, while Middle East tensions continued to simmer.<\/p>\n\n\n\n

Prices rose as high as $2,672 an ounce<\/a>, compared with $2,636 an ounce in late trades on Monday.<\/p>\n\n\n\n

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KAU\/USD 1-hourly Kinesis Exchange<\/figcaption><\/figure>\n\n\n\n

US ISM manufacturing figures came out on Tuesday showing a slightly weaker reading than the market had expected for September, playing into calls for further interest rate cuts.<\/p>\n\n\n\n

However, US JOLTS job openings numbers for August painted a better-than-expected picture on the US employment front, somewhat contradicting other signs of a weaker economy.<\/p>\n\n\n\n

Gold\u2019s volatility at the start of the week comes in the context of an all-time high of $2,686 an ounce on Thursday last week.<\/p>\n\n\n\n

Yields on 10-year US treasuries fell on Tuesday, contributing to gold\u2019s strength, although the yellow metal seemed unaffected by the US dollar, which strengthened against other major currencies.<\/p>\n\n\n\n

Geopolitical factors continue to support gold, after Israel launched a military ground operation against militant group Hezbollah in Lebanon, while Iran launched missiles towards Israel on Tuesday in response. As ever, gold\u2019s status as a safe haven asset means it can take support from increased tensions, and in particular in view of the risk that hostilities could spread further.<\/p>\n\n\n\n

Looking ahead, Wednesday will see a flurry of speeches by US Fed officials, which will be closely watched for any signals on upcoming interest rate decisions, while Thursday will see the weekly US initial jobless claims figures, for the latest update on America\u2019s unemployment situation.<\/p>\n\n\n\n

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Frank\u2019s experience<\/a> covering the commodities markets spans 22 years, with a particular specialism in metals, carbon and energy markets.\u00a0<\/em>He has worked as a senior editor for S&P Global Commodity Insights\u00a0(formerly Platts) and before this, at ICIS-LOR, a part of Reed Business Information (Reed Elsevier), where he covered the petrochemicals markets from 2003 to 2005.<\/em><\/p>\n

This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.<\/i>
\n<\/i><\/p>\n

Read our Editorial Guidelines\u00a0<\/i>here.<\/a><\/i><\/p>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t","protected":false},"excerpt":{"rendered":"

Gold prices rose on Tuesday to recoup Monday\u2019s losses, as the markets digested a mixed set of economic data from the US, while Middle East tensions continued to simmer.<\/p>\n","protected":false},"author":50,"featured_media":133855,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[215,91],"tags":[],"class_list":["post-133823","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news","category-market-analysis"],"acf":[],"yoast_head":"\nGold Bounces Back After Falling Below $2,640 an Ounce<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' gold price news analysis for today, Wednesday 2nd of October 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" 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