Is It Too Late to Buy Tether Gold? XAUT Price Increases 1% as Crypto Casino Project Gathers Pace – How to Buy Cheap?
Leading crypto gold project Tether Gold (XAUT) has seen a +1% price increase amid bullish movements in underlying 1:1 gold prices (per troy Oz) - fuelled largely by increased geopolitical risk stemming from the developing Israeli confrontation with Hamas.
Amid the violence, gold prices are experiencing an uptrend, trading near the $1,850 mark, primarily driven by the escalating military situation around Gaza - which if triggering heightened tensions across the Middle East.
With global markets remain wary of potential geopolitical uncertainties that might have broader implications, investors are gravitating towards traditional safe-haven assets.
Gold, revered as a dependable store of value during periods of geopolitical unrest, seems to be benefiting from this sentiment.
As the conflict between Hamas and Israel continues to unfold and fears of it spreading to other parts of the region mount, there is an increasing demand for assets like Gold to offer protection.
Balancing this, the US Dollar (USD) has shown resilience after the recent positive US Nonfarm Payrolls data, which reported a significant addition of 336,000 jobs in September, overshooting market projections.
This job surge, paired with expectations of the Federal Reserve sustaining higher interest rates, has led to a rebound in US Treasury yields, with the 10-year bond yield nearing its highest since 2007 at 4.80%.
Going forward, the market's focus is set to shift to the upcoming International Monetary Fund (IMF) meeting, which will discuss stabilizing international exchange rates and strategies for further development.
Additionally, the US Core Producer Price Index will be under the spotlight later this week, providing key insights into inflationary trends and the
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