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Gold is making headlines as it inches closer to new highs, while the U.S. Dollar takes a breather.
With the U.S. elections just around the corner and ongoing tensions in the Middle East, investors are flocking to gold—considered the ultimate safe-haven asset.
Adding to this, a supportive monetary policy environment is helping offset rising U.S. bond yields, further fueling the precious metal’s surge.
Yesterday, gold pulled back slightly from its new high of $2,740, but the bulls look to be back in control, driving prices upward despite overbought signals in the RSI.
The next key milestone? $2,750 potentially. However, if gold struggles to hold its momentum, we could see a retracement to the major support level at $2,695.
The U.S. Dollar, meanwhile, eased during the Asian session, along with Treasury Yields.
This retreat opened the door for gold to rally, as market caution grows ahead of major U.S. earnings reports and the uncertainty surrounding the upcoming U.S. presidential
