- Gold ended the week up nearly 1% at $4,386 an ounce, maintaining critical support despite the Fed's 25-basis-point hike and hawkish guidance.
- Analysts point to deteriorating government finances, persistent inflation, geopolitical uncertainty, and reduced dollar demand as deeper drivers of gold demand.
- Gold-backed ETF holdings hit a seven-month high, and technical resistance sits between $4,420 and $4,440, with the 200-day moving average at $4,540.
- Gold futures eked out a weekly gain after the Fed raised rates for the first time since 2023 and signaled more tightening by year-end.
Quotes
“gold's resilience stems from investors looking beyond monetary policy to deeper structural forces”
“Gold futures edged higher Friday and for the week, showing surprising resilience even after the U.S. Federal Reserve raised interest rates for the first time since 2023 and signaled further tightening by year-end.”