Gold Price News: Gold price remains stable despite market volatility

On September 30, 2024, the gold price opened at 2,674 USD per troy ounce and moved to 2,658 USD by the afternoon. Despite a slight downward movement, the gold price remains within the range of a stable sideways movement of the last two days, indicating a period of consolidation in the market.

The monetary policy of the major central banks – particularly the US Federal Reserve and the European Central Bank – remains a key factor for developments in the gold market. Continued stimulus measures and low interest rates help to support the gold price even in an uncertain global economic environment.

The gold market is showing mixed signals in technical analysis. The Stochastic Oscillator indicates an overbought situation, which could lead to profit taking in the short term. Nevertheless, the long-term upward trend remains intact, supported by continued demand as a safe haven and inflation hedge.

Experts predict that the price of gold will continue to be supported by fundamental economic uncertainties and central bank policy. Short-term fluctuations offer investors strategic buying or selling opportunities, depending on how global economic conditions develop.