Daily Market Report
➢ Gold struggles to extend gains and stays below the one-week high ahead of the European trading session.
➢ Safe haven demands support Gold due to escalating Middle East geopolitical tensions.
➢ The US Dollar weakens, which provides support to non-yielding assets like Gold.
➢ Traders believe falling oil prices may allow the Federal Reserve to cut interest rates, putting pressure on the USD.
➢ Crude Oil prices dropped sharply after reaching their highest level since June 2022 earlier this week.
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