Weak Dollar and Heightened Geopolitical Tensions Drive Gold Price Rebound, Marking Three Consecutive Gains
Boosted by a weakening dollar and escalating geopolitical concerns prompting safe-haven buying, gold continued its rebound on Tuesday, closing at $2361.17 per ounce, marking a three-day gain; however, overall gains remain limited as investors await U.S. inflation data later this week to further clarify the timing of interest rate cuts. From a technical perspective, attention remains on resistance near $2375.
Boosted by a weakening dollar and escalating geopolitical concerns prompting safe-haven buying, gold continued its rebound on Tuesday, closing at $2361.17 per ounce, marking a three-day gain; however, overall gains remain limited as investors await U.S. inflation data later this week to further clarify the timing of interest rate cuts. From a technical perspective, attention remains on resistance near $2375.