Analysis of today's market

Later on Thursday, gold prices rose as U.S. Treasury yields fell. Heightened tensions in the Middle East and the predicaments surrounding the U.S. elections underpinned gold. At the time of writing, gold was trading at $2,734, up 0.72%.

As described on Wall Street, risk appetite has improved. U.S. data showed that the labor market remains robust, not as weak as the Federal Reserve had forecast. Due to concerns about overtightening monetary policy, the Federal Reserve cut interest rates by 50 basis points (bps) at its last meeting.

Gold opened near 2734 and, as of press time, had risen to a high of around 2736 and fallen to a low of near 2732. Keep an eye on the resistance levels at 2750-2760-2770. If these levels are not breached, a test of 2710-2700-2690 will be in sight.