This post is from a suggested group
Gold extends record-breaking streak as safe-haven demand persists
Gold scales new all-time peaks for the ninth day in a row amid sustained safe-haven buying.
Concerns about the Fed’s independence weigh on the USD and benefit the precious metal.
The XAU/USD bulls seem rather unaffected by overbought conditions on short-term charts.
Gold (XAU/USD) prolongs its record-setting rally for the ninth straight day and advances over 3% on Thursday, climbing to the $5,600 neighborhood during the Asian session. Investors continue to seek refuge in traditional safe-haven assets on the back of heightened geopolitical and economic uncertainties, which have been fueling the commodity's parabolic rise of more than 10% since the beginning of this week. Apart from this, the recent US Dollar (USD) slump to its lowest level since February 2022 turns out to be another factor behind the precious metal's blistering rally witnessed over the past two weeks or so.
Meanwhile, the non-yielding Gold seems rather unaffected by US Federal…

