Introduction: Weak greenback drives gold over $5,500 an oz.
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The surge within the gold worth is displaying no signal of abating, as bullion continues to soar.
Gold has jumped over the $5,500 an oz. stage this morning, simply three days after hitting $5,000 for the primary time, taking its good points to date this yr to virtually 30% (!).
It powered greater as traders proceed to hurry into secure haven property, searching for safety in opposition to geopolitical and financial uncertainty.
Valuable metals are additionally benefiting from the weaker greenback, which has lurched decrease after president Trump indicated this week he was comfy with the forex’s yr‑to‑date softness. That solely inspired fears of financial debasement, boosting gold’s attractiveness.
As Chris Beauchamp, Chief Market Analyst at IG, explains:
“That sound you hear is that of 2026 gold targets being furiously revised greater, as the worth retains climbing, and given renewed impetus by Trump’s feedback on the greenback. It will have followers of the debasement commerce cheering of their seats, because it reinforces their thesis.
Every time treasured appear susceptible to working out of bullish momentum, one thing comes alongside to rescue it. As long as worldwide traders maintain dumping the greenback, the long run for gold appears vibrant certainly.”
Considerations across the independence of America’s central financial institution are additionally lifting gold.
Though the US Federal Reserve resisted strain from Trump and held rates of interest final evening, it might lower charges as soon as a brand new chair has been put in to switch Jerome Powell later this yr. That might weaken the greenback additional, and carry inflation – two situations that are good for the gold worth.
The agenda
10am GMT: Eurozone client/enterprise confidence report
1.30pm GMT: US commerce report for November
1.30pm GMT: US preliminary jobless claims report
3pm GMT: US manufacturing unit orders information for November
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Key occasions
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