Gold attempts a recovery after its worst day in almost six weeks
October 1, 2024 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a go-to platform for big investing ideas releases market commentary from Michael Brown Senior Research Strategist at Pepperstone.
The yellow metal is attempting to stage a modest recovery this morning, having begun the week with its worst day in almost six weeks, and having notched a second straight daily decline. It seems that this retracement could well be the first sign of gold's traditional fundamental relationships re-asserting themselves, with Treasuries trading softer across the curve, and the dollar broadly firmer vs. most G10 peers. The lack of any haven demand amid escalating tensions in the Middle East is also something of a warning sign to goldbugs. Given the momentum-driven nature of the recent gains seen across the precious metals space, any pullback could have significant room to run to the downside, particularly if weaker longs begin to get flushed out. Friday's US labour market report stands as the key event for participants to navigate, given the FOMC's focus on the employment side of the dual mandate, and with the likelihood that a softer-than-expected report would lead markets to once more go all-in on the idea of a second straight 50bp cut.
About Investorideas.com - Big Investing Ideas
Investorideas.com is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Our original branded content includes podcasts such as Exploring Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create free investor stock directories for sectors including mining, crypto, renewable energy, gaming, biotech, tech, sports and more. Public companies within the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors. Paid content is always disclosed.
Disclaimer/Disclosure: Alaska Energy Metals Corporation is a paid featured mining stock on Investorideas.com, Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact management and IR of each company directly regarding specific questions. More disclaimer info: More disclaimer and disclosure info https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Learn more about our news, PR and social media, podcast and ticker tag services at Investorideas.com
https://www.investorideas.com/Investors/Services.asp
Learn more about digital advertising and guest posts
https://www.investorideas.com/Advertise/
Research more mining stocks with Investorideas.com free stock directory
https://www.investorideas.com/Gold_Stocks/Stocks_List.asp
Follow us on X @investorideas @stocknewsbites
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Sign up for free stock news alerts at Investorideas.com
https://www.investorideas.com/Resources/Newsletter.asp
Contact Investorideas.com
800 665 0411
