A post by @FirstSquawk on X.
GOLD ADVANCED AS FALLING OIL PRICES AND A WEAKER U.S. DOLLAR SUPPORTED BULLION AND A REBOUND IN EQUITIES IMPROVED RISK APPETITE, WITH SPOT GOLD CLIMBING AS MUCH AS 1.6% TO $4,134.16 AN OUNCE BEFORE TRADING 0.9% HIGHER AT $4,105.48, AS OIL…
@FirstSquawk on X
Not investment advice. Muhabbit scores how much a story may matter, not which way to trade.
Oil extended its steepest weekly decline, easing inflation concerns tied to energy costs. The move matters because it shows bullion rallying even as risk sentiment improves, a sign that dollar weakness and lower crude are driving flows into gold. What to watch next is whether the dollar's slide continues and whether oil's steep weekly drop persists, since both are currently the main supports for gold.
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Named in this story
gold (XAU), oil (OIL), U.S. dollar
A linked name opens that asset's sentiment page.