Ella 
Gold prices (XAU/USD) climbed to a new two-week high during the Asian session on Thursday, looking set to extend their recent strong rebound from seven-month lows in the $1,810 area hit last week. Precious metals have returned to being the safe haven of choice amid geopolitical tensions in the Middle East, and have found further support from the recent decline in the U.S. dollar. In addition to this, falling global bond yields have also become another factor that has benefited the zero-yielding asset gold and contributed to the rise in gold prices.
Gold prices have now recovered more than 30% of September’s losses amid the latest gains, and the positive move appears to be unaffected by the generally positive tone in equity markets. This, coupled with expectations that the Federal Reserve (Fed) is about to end its interest rate hike cycle, suggests that gold prices still have the least resistance to the upside. However, traders may prefer to wait for the latest U.S. consumer inflation data to be released during the U.S. session during the day.
