Trying to push through resistance now pic.twitter.com/e7XDsyFVFi
— JoanOfArc (@JoanOfArc287) October 29, 2023
— Win Smart, CFA (@WinfieldSmart) October 30, 2023
Gold Soars Above $2000 Amid Govt Chaos and Global Conflict
Gold prices have surged past $2,000 per ounce, marking the first time since May, driven by geopolitical tensions in the Middle East. Despite strong US yields and a resilient dollar, gold’s appeal as a safe-haven asset has propelled its rise by nearly 10% this month. Experts like Saxo Bank’s Ole Hansen suggest that if gold maintains above the $2,000 mark, it could surpass its prior record highs. The rising gold price, indicates that gold might be still undervalued. Geopolitical events and concerns over the US government’s fiscal health further support the bullish outlook for gold.