INSUBCONTINENT EXCLUSIVE:
The price of gold futures dropped sharply on Monday, November 25, 2024
This decline was triggered by reports of a potential ceasefire between Israel and Hezbollah.The appointment of a new US Treasury Secretary
also influenced the market
December gold futures fell by 3.45% to $2,618.5 per troy ounce on the Comex.This division of the New York Mercantile Exchange deals with
update on the ceasefire negotiations
While not finalized, talks are progressing well
The Israeli government expects a decision within days.They are working to resolve the remaining issues and seal the agreement
In Lebanon, the situation appears equally promising
(Photo Internet reproduction)Sources suggest that US President Joe Biden and French President Emmanuel Macron may announce a ceasefire soon
The appointment of Scott Bessent as US Treasury Secretary also impacted gold prices.Gold Market AnalysisFawad Razaqzada from StoneX views
this as a balanced choice
It may bring more stability to the US economic outlook
Despite the current dip, Razaqzada believes gold could reach $3,000 per troy ounce in the longer term.In the short term, gold prices face
Investors are reducing their aggressive buying positions
The resolution of US election uncertainties is also affecting the market.However, TD Securities does not predict a major downturn for gold
Gold continues to attract buyers as a hedge against inflation and geopolitical instability.These factors support its long-term value
sensitive to global events and economic indicators
Investors and analysts will continue to monitor developments closely
The coming days may bring further clarity on both the Middle East situation and US economic policies.
