Gold Rebounds Nearly 2% on Ceasefire Hopes, Then Eases as Hezbollah Rejects
ING reports gold rebounded nearly 2%, briefly topping $4,500/oz, as a tentative Israel-Lebanon ceasefire reduced immediate geopolitical risk, before easing when Hezbollah rejected the proposal.
ING's commodities team reports that gold rebounded nearly 2%, briefly topping $4,500/oz, as a tentative Israel-Lebanon ceasefire reduced immediate geopolitical risk. However, the metal eased after Hezbollah rejected the ceasefire proposal.
Markets remain focused on interest rate expectations, with range trade persisting as investors weigh shifting geopolitical and monetary policy signals.
ING notes the metal's price action remains tied to broader risk sentiment and rate outlook, with the ceasefire-driven rally proving short-lived.
Source: FXStreet Forex News