Gold remained steady at around $2,510 per ounce on Monday, staying near record highs following Federal Reserve Chair Jerome Powell’s reinforcement of expectations for an interest rate cut in September.
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Gold stabilized around $2,490 per ounce on Friday, after dropping more than 1% in the previous session from its record highs.
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XAU/USD is approaching the lower part of the uptrend channel. It is very close to testing the lower line of the uptrend for the fourth time.
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Gold prices remain strong above $2,495 during Wednesday's Asian trading, holding onto gains after reaching a new all-time high of $2,532.
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On Tuesday, gold remained near $2,500 per ounce, staying close to record highs due to its status as a safe haven while investors awaited further signals from the Federal Reserve.
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Gold prices remained near a record high of $2,500 per ounce on Monday, driven by strong demand for safe-haven assets.
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Gold remained steady around $2,450 per ounce on Friday, poised to record a weekly gain following a decline the previous week.
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Gold prices eased to approximately $2,460 per ounce on Wednesday, and remained near record highs, as softer US inflation data heightened expectations for a more significant Federal Reserve rate cut in September.
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Gold eased to around $2,460 per ounce on Wednesday but remained near record highs, as new evidence of softer US inflation increased expectations for a larger interest rate cut by the Federal Reserve in September.
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