Today (November 7th), gold prices in the world market suddenly c
Global gold prices fell this morning, with the spot gold price down $13.5 to $1,977.5 per ounce. Gold futures were trading at $1,988.6 per ounce, down $10.6 from yesterday morning's gold price.
In the first session of the week, safe-haven metals came under pressure as risk appetite increased among investors and traders. Experts say weak demand for safe-haven assets and interest rate expectations are holding gold back. Since the conflict between Israel and Hamas broke out, gold has risen 7% on safe-haven buying. However, Kitco Metals senior analyst Jim Wyckoff said risk appetite has improved and there are no major surprise developments related to the Israel-Hamas conflict, making it a safe haven for investors. It's becoming more and more attractive.
Additionally, Ricardo Evangelista, senior analyst at ActiTrades, said investors' risk appetite has improved following last week's Federal Reserve Chairman Jerome Powell's speech and the statistics. Weaker-than-expected U.S. employment growth has raised hopes that the Fed will end the current rate hike cycle.
Heraeus Metals experts said in a recent note that for gold to sustainably rise above $2,000 an ounce, interest rate cuts are imminent and investors return to stock market trading due to the Fed's threat. He said a clearer signal was needed.
In the first session of the week, safe-haven metals came under pressure as risk appetite increased among investors and traders. Experts say weak demand for safe-haven assets and interest rate expectations are holding gold back. Since the conflict between Israel and Hamas broke out, gold has risen 7% on safe-haven buying. However, Kitco Metals senior analyst Jim Wyckoff said risk appetite has improved and there are no major surprise developments related to the Israel-Hamas conflict, making it a safe haven for investors. It's becoming more and more attractive.
Additionally, Ricardo Evangelista, senior analyst at ActiTrades, said investors' risk appetite has improved following last week's Federal Reserve Chairman Jerome Powell's speech and the statistics. Weaker-than-expected U.S. employment growth has raised hopes that the Fed will end the current rate hike cycle.
Heraeus Metals experts said in a recent note that for gold to sustainably rise above $2,000 an ounce, interest rate cuts are imminent and investors return to stock market trading due to the Fed's threat. He said a clearer signal was needed.
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