Today's foreign exchange market

SOOLIKE | 2024-08-28 09:19

Abstract：Gold prices advanced firmly during the North American session on Tuesday amid a risk-on environment and steady US Treasury yields. Investors ignored better-than-expected economic data from the United States (US), failing to underpin the already battered Greenback. The XAU/USD trades at $2,524 and gains over 0.20%.

Gold prices advanced firmly during the North American session on Tuesday amid a risk-on environment and steady US Treasury yields. Investors ignored better-than-expected economic data from the United States (US), failing to underpin the already battered Greenback. The XAU/USD trades at $2,524 and gains over 0.20%.

The financial markets' narrative has remained unchanged since Federal Reserve (Fed) Chair Jerome Powell announced last Friday that the time for lowering interest rates has come. This sent US Treasury bond yields tumbling and the US Dollar to a new 12-month low, levels last seen in July 2023, according to the US Dollar Index (DXY).

Gold opened at around 2525and rose to around 2528 at the highest and around 2524 at the lowest before press time.Pay attention to the resistance of 2520-2530-2540. If it fails to break through, it will test2500-2490-2480

XAUUSD

Related broker

Regulated

SOOLIKE

Company name：SOOLIKE CAPITAL MARKETS

Score

5.16

Website：https://soolike.com/en

1-2 years | Regulated in South Africa | Financial Service | MT5 Full License

Score

5.16

Are We in a New Gold Rush? Everyone’s Talking About Gold Again!

Amid record-breaking gold prices and global economic turbulence, could we be witnessing the start of a new gold rush? And do you know that The Gold Rush of the 1800s is one of the most revolutionary chapters in economic history? Keep reading to learn why gold is in the spotlight again!

Original 2025-04-26 11:03

Bitcoin vs Gold: Where Should You Run During Market Turmoil?

As the Bitcoin recently surged from the $82,000 range to over $93,200 (its highest level in months), investors are again left to ponder: Could Bitcoin be the new gold?

Original 2025-04-23 16:58

Protect Your Portfolio in the Storm | What Are Safe Haven Assets?

Gold surged to an all-time high on Tuesday, driven by renewed weakness in the US dollar, ongoing trade war tensions, and critical remarks from President Donald Trump aimed at the Federal Reserve. These factors fuelled strong demand for safe-haven assets, pushing bullion above US$3,485 an ounce for the first time. But what exactly are safe haven assets? Why is everyone raving about them?

Original 2025-04-22 14:26