11 Oct, 23

Gold Recovers From Deep Sell-Off

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Gold markets have managed to partly pare back losses and reverse a deep selloff over the past couple of days after Friday’s surprise attack by Hamas on Israel, overcoming negative sentiment triggered by the Fed’s hawkish outlook of higher-for-longer interest rates as well as a brawny dollar.  Gold prices have gained 2.3% since Friday to trade at $1,860.30 per ounce in Tuesday’s intraday session, reversing a nearly 7% decline since late September with the yellow metal trading above $1,930 per ounce on September 20. …

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