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Gold continues to show strength in the market, trading near its record high of $2,790.17, bolstered by multiple supportive factors.
A softening U.S. dollar, down 0.28%, combined with falling Treasury yields, has enhanced gold’s appeal as a safe-haven asset. The precious metal’s resilience is particularly noteworthy given the current market environment, where tech stock volatility has triggered a broader flight to safety.
Market sentiment remains bullish with traders targeting the $3,000 level, though careful attention is being paid to key support at $2,693.40.
The upcoming Federal Reserve policy meeting is expected to maintain current rates, potentially creating a favorable low-yield environment for gold.
