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GOLD: Heading For One Of The Best Annual Gains This Century

GOLD
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Gold is little changed in today’s Asia-Pac session, after closing 0.6% lower at $2606.50 on Monday. 

  • Gold is on track for one of its most significant annual gains this century, rising 26% amid a combination of persistent geopolitical risks and a surge in central bank purchases.
  • Lower interest rates have also been a key driver, as gold — being a non-yielding asset — becomes more attractive in such an environment.
  • While bullion has edged lower since Donald Trump’s decisive victory in November’s US presidential election, its performance in 2024 remains ahead of most other commodities.
  • According to MNI’s technicals team, Monday’s move down undermined the recent bullish theme. A resumption of weakness would signal scope for an extension towards the key support at $2536.9, the Nov 14 low. Moving average studies are in a bull mode position.
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Gold is little changed in today’s Asia-Pac session, after closing 0.6% lower at $2606.50 on Monday. 

  • Gold is on track for one of its most significant annual gains this century, rising 26% amid a combination of persistent geopolitical risks and a surge in central bank purchases.
  • Lower interest rates have also been a key driver, as gold — being a non-yielding asset — becomes more attractive in such an environment.
  • While bullion has edged lower since Donald Trump’s decisive victory in November’s US presidential election, its performance in 2024 remains ahead of most other commodities.
  • According to MNI’s technicals team, Monday’s move down undermined the recent bullish theme. A resumption of weakness would signal scope for an extension towards the key support at $2536.9, the Nov 14 low. Moving average studies are in a bull mode position.