Gold Surges Over 1.5% as Dollar Weakness Triggers Breakout
Gold rallied more than 1.5% on Wednesday, breaking above a key resistance trendline and hitting a fresh two-week high, driven by broad US Dollar weakness despite escalating US geopolitical tensions.
XAUUSD
Gold (XAU/USD) jumped over 1.5% on Wednesday, cracking a key resistance trendline and reaching a new two-week high. The rally was fueled by a weakening US Dollar, which boosted the appeal of the dollar-denominated bullion.
This price action occurred against a backdrop of rising tensions and hostilities between the US and other parties, although the exact counterparty was not fully detailed in the source. The metal's gain highlights its safe-haven bid amid currency depreciation.
Source: FXStreet Forex News