Gold Analysis: 27 November 2024

Gold dropped more than 3% on Tuesday, reaching an intraday low close to $2,605, as pressure increased from higher Treasury rates and a stronger US currency. The decline occurred as Scott Bessent was nominated as the U.S. Treasury Secretary, which increased confidence across the globe and sparked demand in riskier assets. Bets on reducing tensions […]
EUR/USD Analysis

After a sharp decline last week, the EUR/USD bounced back. The rebound was attributed to Donald Trump’s announcement that he would name hedge fund manager Scott Bessent as Treasury Secretary. Given that Bessent is expected to put political stability first and ease worries about sweeping tariffs, the decision provided investors with some relief and a […]