{"id":132094,"date":"2024-09-18T08:25:42","date_gmt":"2024-09-18T08:25:42","guid":{"rendered":"https:\/\/kinesis.money\/?p=132094"},"modified":"2024-09-18T08:25:42","modified_gmt":"2024-09-18T08:25:42","slug":"gold-pulls-back-ath","status":"publish","type":"post","link":"https:\/\/kinesis.money\/fr\/market-analysis\/gold-news\/gold-pulls-back-ath\/","title":{"rendered":"Gold Price News: Gold Pulls Back from All-Time Highs"},"content":{"rendered":"\n

Gold prices pulled back slightly on Tuesday from their fresh all-time high on Monday, as the market took stock of the latest push into new territory.<\/p>\n\n\n\n

Prices eased slightly to a low of $2,561 an ounce<\/a> on Tuesday, compared with around $2,584 an ounce in late trades on Monday. Monday saw a fresh all-time high for gold at $2,590 an ounce in intra-day trading.<\/p>\n\n\n\n

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

Tuesday\u2019s pull-back was perhaps inevitable after the previous week\u2019s steep gains, although bullish elements continue to keep the yellow metal supported.<\/p>\n\n\n\n

The big-ticket item this week is the US Fed\u2019s meeting on Wednesday which is widely expected to see the central bank slash interest rates for the first time since March 2020.<\/p>\n\n\n\n

Data from interest rate traders imply a majority of over 60% believe the Fed will cut rates by 50 basis points at the meeting, with less than 40% expecting a smaller 25-basis point cut, according to the latest figures from the CME FedWatch tool: CME FedWatch – CME Group<\/a><\/p>\n\n\n\n

Lower borrowing costs tend to weaken the US dollar and support precious metals prices. Whatever is announced on Wednesday, the market\u2019s focus will naturally also shift to the potential for any further rate cuts in the remainder of the year.<\/p>\n\n\n\n

In addition, geopolitical tensions once again came to the fore on Tuesday after a coordinated attack caused electronic pagers owned by Hezbollah members in Lebanon to explode simultaneously, killing several and injuring hundreds. The latest move may be seen as raising the risk of a wider conflict in the region \u2013 which would tend to support safe havens like precious metals.<\/p>\n\n\n\t\t\t

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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 pulled back slightly on Tuesday from their fresh all-time high on Monday, as the market took stock of the latest push into new territory.<\/p>\n","protected":false},"author":50,"featured_media":132156,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[215,194],"tags":[],"class_list":["post-132094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news","category-market-analysis"],"acf":[],"yoast_head":"\nGold Pulls Back from All-Time Highs | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' silver price news analysis for today, Wednesday 18th of September 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\" content=\"fr_FR\" \/>\n<meta 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