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Gold Price News: Gold price stable at USD 2,756 – Geopolitical tensions remain in focus

Dr. Mathias Kunze, economist and business lawyer.

Dr. Mathias Kunze

3 min. | 01.11.2024 | 18:42 EET

Gold Price Live on 01.11.2024

Today's gold price and important market developments from 01.11.2024 in the live ticker

Source: ChatGPT (OpenAI)

Stable gold price despite global uncertainties

The gold price remained stable today at USD 2,756 per troy ounce, due to ongoing geopolitical tensions and economic uncertainties. Investors continue to seek safe havens, while global markets remain volatile.

Iran threatens Israel again with attack: Oil prices rise

Iran's latest threats against Israel have pushed up oil prices. Iran is reportedly planning an attack on Israel, further escalating tensions in the Middle East. These developments are affecting global markets and increasing the appeal of gold as a safe haven investment.

North Korea assures Russia of continued support in Ukraine war

North Korea's foreign minister has pledged additional support to Russia in the Ukraine conflict. This increased cooperation between Russia and North Korea raises geopolitical risks and contributes to market uncertainty.

German government closes all Iranian consulates general

In response to the latest developments, the German government has decided to close all Iranian consulates general in Germany. This step highlights the growing tensions between Iran and Western countries and could have further implications for the geopolitical situation.

DAX under pressure & Oil price stabilizes

The German stock index DAX is under pressure today, while oil prices are stabilizing after recent increases. The uncertainties in the stock markets are causing investors to invest more in gold to hedge their portfolios.

Technical analysis: resistance at USD 2,760

Technical analysis indicates resistance at USD 2,760. If this level is breached, the gold price could rise further in the short term. The current geopolitical tensions could serve as a catalyst for such a rise.

Outlook: Demand for gold remains high

With geopolitical tensions and economic uncertainties persisting, demand for gold as a safe haven investment remains high. Analysts expect the gold price to remain volatile in the coming days and potentially reach new highs if the situation were to worsen.


Dr. Mathias Kunze, economist and business lawyer.
Dr. Mathias Kunze
Dr. Mathias Kunze, an experienced economist and business legal expert, has over three decades of experience in business management, marketing, finance and tax law. He advises on business start-ups, international tax optimization and the relocation of individuals and companies abroad. As a proven expert in the precious metals markets, he offers valuable advice and support. Dr. Kunze has published numerous studies and articles and has received awards for his contributions to research and teaching. He speaks German, English, Polish and Russian.
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