🔸 XAU/USD Current Price: $2,744.80
🔸 Key Drivers:
• United States Presidential election raises concerns about future interest rates
• US Treasury yields climb amid market uncertainties
• XAU/USD continues to post higher highs with bulls in control
💡 Market Highlights:
• Gold Hits Record Highs: XAU/USD peaked at $2,745.01 during US trading hours on Tuesday
• Market Sentiment: Geopolitical tensions and the US elections keep investors in a risk-averse mode
• Speculative Moves: Concerns over Trump’s policies push traders to price in slower Fed rate cuts
📉 Treasury Yields Soar:
• 10-Year Yield: 4.20% – highest since July
• 2-Year Yield: 4.05% – multi-week high
📊 Technical Outlook: XAU/USD
• Short-Term: Gold poised for further gains with no signs of exhaustion, despite overbought conditions
• Daily Chart: Trading just below daily highs, strong support from bullish moving averages
• 4-Hour Chart: Indicators show momentum, RSI remains bullish even in overbought territory
🌟 Outlook: Gold is likely to continue its upward march, riding the wave of economic and geopolitical uncertainty.
