Gold Prices Rise in European Trading Session, Maintaining Upside Momentum
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#cbfb541a ver:0.18
Gold prices have continued to rise in the European trading session, with spot gold reaching $2,171 per ounce, up by 0.30%. The increase in gold prices can be attributed to its safe haven appeal, which has attracted buyers. The weakening of the US dollar and muted market fundamentals have provided another opportunity for gold to sustain its upside momentum. Despite high-impact data favoring gains by the dollar, investors still hold a favorable view of gold as a safe haven investment for 2024. Many central banks are struggling to strike a balance between inflation and interest rates, and the US Federal Reserve is expected to announce three rate cuts this year, further supporting steady gains by gold in the mid-term. However, gold prices will need to overcome the resistance at $2,179 to maint...
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