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None Rallies but Fails to Cross the $2050/Oz Hurdle. • None Safe Haven Appeal Could Intensify if the Red Sea Issues Continued and Intensified. • None in…
Gold enjoyed a rally toward the $2050/Oz mark before facing some selling pressure as Fed rate cut expectations continue to sway back and forth. PCE data later in the week could prove key to where Gold prices end the week.
Oil prices are up around 7% from last weeks lows as speculation mounts over further cuts by OPEC+ who meet later this month. Immediate resistance poses a hurdle but overall sentiment may prove to strong.