$$ETH Here’s a latest short analysis of the gold market.
What’s going well for gold
The spot price of gold (for example via the SPDR Gold Shares ETF) is elevated, reflecting strong demand.
SPDR Gold Shares ETF (GLD)$375.96-$6.93(-1.81%)November 14$375.62-$0.34(-0.09%)After Hours1D5D1M6MYTD1Y5Ymax1:25 PMOpen372.89Volume15.2MDay Low370.93Day High384.62Year Low236.33Year High403.30
Analysts say that ongoing economic uncertainty and weak confidence in fiat currencies are supporting gold’s appeal. Investopedia+2Morgan Stanley+2
Key drivers include:
A weaker US dollar (which makes gold cheaper for non-USD buyers). CME Group+1
Low real interest rates (which reduce the opportunity cost of holding a non-yielding asset like gold). Econofact
Strong central bank purchases of gold as part of reserve diversification. Morgan Stanley+1
📌 Summary
Gold currently enjoys strong tailwinds (uncertainty, low rates, bank buying). At the same time, some caution is warranted because of overbought conditions and potential shifts in rate/dollar dynamics. If I were making a call: gold may continue to rise modestly, but the pace of gains might slow and pullbacks become more likely, so patience and risk-management are important.
If you like, I can pull up specific price targets for gold (global and for Pakistan rupee context) and a detailed technical chart analysis. Would you like that?
