Gold hits highest level since mid-May as bullish momentum strengthens
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Gold rose to its highest level since mid-May after news of a US Treasury buyback supported demand; spot and futures both advanced. Near-term positioning is sensitive to upcoming US inflation data and Fed Chair remarks for rate-path clarity. Citi raised its 0–3 month gold target, citing lower real yields, a less hawkish Fed stance, and easing Hormuz Strait tensions.
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NCCOGOLD2USD/USDT-0.14%
AI تجزیاتی سمجھ · NCCOGOLD2USD/USDTAI تجزیاتی سمجھ
▲ Bullish
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⚠️ AI سے تیار کردہ تجزیاتی سمجھ خبروں کے مواد پر مبنی ہے اور صرف معلوماتی مقاصد کے لیے فراہم کی گئی ہے۔ یہ سرمایہ کاری کا مشورہ نہیں ہے اور نہ ہی BingX کے خیالات کی نمائندگی کرتی ہے۔ سرمایہ کاری میں رسک شامل ہے۔ براہ کرم ذمہ داری سے ٹریڈ کریں۔
Gold prices rose on Tuesday after news that the U.S. Treasury would buy back government bonds boosted sentiment. Spot gold climbed 0.6% to $4,676.75 an ounce, touching its highest level since May 14 during the session, while gold futures gained 0.8% to $4,734.50.
Markets are awaiting upcoming U.S. inflation data and remarks from the Federal Reserve chair for fresh clues on the interest-rate outlook.
Citigroup on Monday lifted its 0–3 month gold target to $4,800, while keeping its 6–12 month target at $5,000, citing easing tensions around the Strait of Hormuz, falling real yields, and a less hawkish Fed stance.
