Gold price (XAU/USD) extends its upside during the early Asian trading hours on Thursday. Despite higher US Treasury bond yields, the precious metal g
Gold price gains momentum above $1,980 despite higher US yields. US New Home Sales for September increased to 759,000 MoM, above the market expectation. Rising geopolitical tension in the Middle East might boost safe-haven assets like gold price. Traders await the US growth numbers for Q3, which is expected to show a 4.2% expansion. ains momentum on the risk aversion. At the press time, gold price is adding 0.21% on the day to trade at $1,983.
Nonetheless, the rising geopolitical tension in the Middle East might boost safe-haven assets like gold price. Israel Prime Minister Benjamin Netanyahu stated on Wednesday that Israel is preparing a ground invasion of Gaza, but he declined to provide any specifics on the timing or other details regarding the operation. Gold traders will closely monitor the preliminary estimate of the US Q3 Gross Domestic Product on Thursday, which is expected to show a 4.2% expansion.
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