On Wednesday, Gold (XAU/USD) rebounds to the $2,650s as traders react positively to the ceasefire deal between Israel and Hezbollah, following heavy selling on Monday. While the 60-day ceasefire is holding, some remain skeptical without a resolution in Gaza, according to Bloomberg.

Additionally, gold may benefit from safe-haven demand amid other geopolitical risks, with reports from Ukraine highlighting increased instability on the frontlines, as noted by UK Defence Secretary John Healy.

Gold rises as traders “buy the fact” after news of Lebanon ceasefire

Nov 27 2024