गोल्ड प्राइस ने सोमवार को $ 3,900 मार्क को वापस धक्का दिया क्योंकि खरीदारों ने अक्टूबर के करीब सस्ता बुलियन लेने के लिए कदम रखा।.
By 23:21 ET (04:21 GMT), spot gold climbed 0.8% to trade at $3,907.17 an ounce, while U.S. gold futures picked up 0.5% to reach $3,916.32.
Other precious metals showed mixed action across the board:
- Silver surged 1.9% to reach $50.0630 an ounce.
- Platinum slipped 3.4%, dropping to $1,434.65.
- Spot palladium dropped 2.6% to $980.35, though palladium futures ticked up slightly by 0.1%.
- The U.S. Dollar Index added 0.1% to sit at 101.93.
The rebound came right after gold sank 3.7% in the previous session. That steep slide hit a one-year low and locked in the metal's worst October showing since 2008. Once prices hit those discounted levels, bullion climbed as much as 0.7% to make its run back near $3,900.
Geopolitics and Energy Markets Cool Down
Crude oil prices fell for a second straight day ahead of Tuesday's U.S. midterm elections. Secretary of State Marco Rubio mentioned that President Donald Trump would rather find a diplomatic solution with Iran. That comment helped ease worries about energy supply hits and cooling inflation fears.
Even so, the risk of things flaring up again has not gone away. Trump has cautioned that the U.S. could launch strikes against Iran after the midterm vote wraps up. In response, Tehran warned it would strike back hard. Several Persian Gulf nations have also voiced concern that a fresh strike could set off a much wider fight across the region.
Stock Drops and High Yields Keep Pressure on Bullion
Gold is still feeling the heat from selling in the broader stock market. With tech shares tumbling, many traders ended up selling their gold positions just to cover cash losses in other parts of their accounts. U.S. equities were lining up for more losses on Monday as Wall Street continued to pull back from artificial intelligence stocks.
Analysts at ANZ pointed out that high bond yields are making it tough for bullion to make major headway. On top of that, American consumer spending remains strong, running at an annualized pace of 3.8%, which signals the economy is still moving fast.
Yet buyer interest has not dried up completely. ANZ reported that gold-backed exchange-traded funds brought in over 50 tonnes in September. That happened even with U.S. Treasury yields sitting above 5%, showing that the typical pattern where rising yields hurt gold prices has lost some of its grip.
Looking ahead, ANZ expects firm bond yields and a solid U.S. dollar to keep gold's gains in check for now. They see bullion consolidating around $4,000 an ounce, with the possibility of dips below that mark before any lasting rally takes off.
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Key Takeaways for Gold and Precious Metals Traders
- Bargain Buying at Key Levels:Gold buyers showed up right around the $3,900 zone after a brutal end to October, confirming solid support on sharp dips.
- Watch Equities for Forced Liquidation:Ongoing drops in tech and AI stocks might force institutional desks to cash out bullion to meet margin requirements.
- Dollar and Yield Resistance:With the U.S. economy staying resilient and bond yields staying high, expect gold to chop around the $4,000 zone rather than break out immediately.