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Gold Prices Rebound 2% after Sharp Weeklong Decline
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Gold rebounded 2% intraday after a sharp weekly fall, supported by safe-haven buying amid trade tensions; analysts see prices consolidating before the Fed’s November policy meet.
Gold prices rose 2% intraday after suffering their steepest weekly fall in a decade. The rebound was driven by renewed safe-haven demand as investors reassessed global trade risks following new US tariffs on Chinese imports. Analysts expect near-term consolidation between $1,950 and $2,000 per ounce ahead of the Federal Reserve’s November policy meeting. Silver also climbed 1.5% while platinum remained stable. Commodity experts believe gold’s upside will depend on inflation data and dollar strength in coming weeks.