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IAUM - Can Gold Prices Surpass $2400/Oz? (Technical Analysis)
iShares Gold Trust Micro
2024-07-10 04:15:00 ET
Summary
Gold prices are supported by rate cut expectations and central bank buying.
Gold ETFs see positive flows, suggesting bullish momentum.
Fed Chair Powell’s testimony may cause short-term volatility but no direction.
By Zain Vawda
Gold prices found support at $2350 per ounce yesterday after a selloff erased Friday’s gains. On Friday, gold peaked at $2393 per ounce as the market assessed the impact of the US jobs report and adjusted their expectations for a rate cut....