TechFlow, October 28 — According to Jinshi Data, gold prices recovered some ground on Tuesday, climbing back above $4,000 per ounce, as a weaker dollar and expectations of further Fed rate cuts outweighed pressures from signs of easing in global trade tensions. During early trading, spot gold rose as high as around $4,019 per ounce, after falling more than 3% on Monday to its lowest level since October 10. Tim Waterer, Chief Market Analyst at KCM Trade, said: “Buyers who have been waiting on the sidelines are now being tempted to enter positions at these price levels. In addition, we’re seeing a softer dollar, which is giving gold some breathing room.”
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