Gold slips from record high amid Israel-Hamas peace deal
The post Gold slips from record high amid Israel-Hamas peace deal appeared on BitcoinEthereumNews.com.
Gold (XAU/USD) drifts lower during the Asian session on Thursday and now seems to have snapped a four-day winning streak to a fresh all-time peak, around the $4,059-4,060 area touched the previous day. The Israel-Hamas agreement to the first phase of the peace deal helps ease some of the geopolitical tensions and prompts some profit-taking around the safe-haven commodity amid still overbought conditions. However, dovish Federal Reserve (Fed) expectations might continue to act as a tailwind for the non-yielding yellow metal and warrant some caution for aggressive bearish traders. In fact, traders have been pricing in a greater chance that the US central bank will lower borrowing costs two more times by the year-end. This, in turn, fails to assist the US Dollar (USD) to capitalize on its weekly gains and drags it away from the highest level since late August, touched on Wednesday. Furthermore, concerns that a prolonged US government shutdown could affect the economic performance make it prudent to wait for strong follow-through selling before confirming that the Gold price has topped out. Traders now look to Fed Chair Jerome Powell’s speech for a fresh impetus. Daily Digest Market Movers: Gold bulls take profits as geopolitical tensions ease US President Donald Trump said Wednesday that Israel and Hamas had agreed on the first phase of his 20-point Gaza peace plan after talks in Egypt. The development prompts bullish traders to take some profits off the table and weighs on the safe-haven Gold during the Asian session on Thursday. Minutes from the Federal Reserve’s September meeting released on Wednesday indicated near unanimity among participants to lower interest rates amid concern about labour market risks. Policymakers, however, remained split on whether there should be one or two more rate reductions before the year-end. According to the CME FedWatch tool, the…
Filed under: News - @ October 9, 2025 4:21 am