Goldman Sachs Raises Oil Price Forecasts Amid Strait of Hormuz Disruptions 
Is dark chocolate healthier than milk chocolate? 2 dietitians explain 
The four types of dementia most people don’t know exist 
Meta and Google just lost a landmark social media addiction case. A tech law expert explains the fallout 
God on their side: how the US, Israel and Iran are all using religion to garner support 
Makemation: a Nollywood movie that shows AI in action in Africa 
US-Iran Ceasefire Talks Underway: What You Need to Know 
Gold is meant to be a ‘safe haven’ in uncertain times. Why is it crashing amid a war? 
Gold prices trades flat ahead of US economic data. It hits a high of $2650 and is currently trading around $2639.
The ADP report is expected to show that private sector jobs increased by 233,000 in October, marking the highest growth since July 2023 and reflecting a strong recovery after hurricane impacts. Most of the job gains are likely from the service-providing sector, with education, health services, and hospitality seeing significant contributions. Year-over-year wage growth for those staying in jobs is projected to slow to 4.6%, while job-changers may see gains around 6.2%. The ISM Services Index will also be a key indicator of economic health, with readings above 50 showing growth. Analysts are watching these figures closely for insights into consumer spending and economic momentum.
Technical Outlook for Gold Prices
Technically, gold prices are currently above both short-term and long-term moving averages, indicating a bearish trend. Immediate support is at $2,600, with potential declines to $2,570, $2,536, and $2,500. Resistance is at $2,670; breaking this level could lead to prices rising toward $2,700, $2,720, and $2,750. A suggested strategy is to buy on dips between $2,600, with a stop-loss at $2,570 and a target price of $2,665
