Even gold denominated in the Swiss franc, which has always been considered a hard currency, has come out of the bull market.

Gold is not an interest-bearing asset, and higher US bond yields will severely hit gold prices.

Affected by multiple factors such as tensions in the Middle East, uncertainty about the U.S. presidential election and interest rate cuts by central banks, spot gold hit a record high of $2,732.88 per ounce on Monday.

On Friday, spot gold extended the previous session's gains as the latest macroeconomic data reinforced market expectations that the Federal Reserve will cut interest rates in November.

Spot gold was down slightly by 0.26% as of 7:24 GMT on Friday, trading at $2,665.35 an ounce.

In the medium to long term, there is still support for gold prices against the backdrop of interest rate cuts.

Spot gold extended its gains, recording a record high of $2,589.71 per ounce on Monday, as investors widely expect the Federal Reserve to implement a significant interest rate cut this week.

Spot gold prices held above $2,500 per ounce on Tuesday as the market focused on upcoming U.S. Consumer Price Index (CPI) data.

On Monday, spot gold retreated from near-record high levels, driven by a stronger U.S. dollar and rising Treasury yields. Market participants reduced their expectations for significant monetary easing by the Federal Reserve.

On Monday, spot gold stayed near record highs while the dollar index fell to a 13-month low.

There are many reasons for the rise in gold prices.

On Friday, spot gold reached a new two-week high of $2,468.53 an ounce and is expected to record its biggest one-week gain since early April.

On the morning of August 1, the New York Mercantile Exchange gold futures contract price once broke through 2500 U.S. dollars / Sheng Division, reached 2502.8 U.S. dollars / ounce, a record high. The federal reserve hinted at the earliest September interest rate cuts, is one of the main reasons for the rise in international gold prices. On July 31, the federal reserve Yibu will federal funds rate target range unchanged at the level of 5.25%-5.5%, in line with market expectations.

Spot gold rose slightly on Friday, but is expected to record a decline this week.

On July 21st, current US President Biden announced his withdrawal from the 2024 presidential election. After the news of Biden's withdrawal was announced, there was no significant fluctuation in the market, and there was a strong wait-and-see sentiment.

On Tuesday, spot gold rose slightly, approaching its highest level since May 20th.

Latest retail sentiment and technical analysis on US crude oil, gold, and German DAX 40.

Recent retail trader data from IG shows significant optimism towards gold and silver.

On Monday, spot gold slightly weakened, and the market's focus was on more macro data from the United States this week, including key non farm payroll reports.

As of 9:13 GMT on Monday, spot gold rose 0.22% to $2,349.39 per troy ounce.