Invesco DB Precious Metals Fund

DBP

Market cap $272M

Axel Merk, founder and CIO of Merk Investments, said that while gold remains a relatively 'calm' investment, the world around the commodity and the geopolitical and economic 'crosscurrents' including AI investment and the war with Iran have created volatility in markets. -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET Saturday & Sunday 7am-10am ET WATCH HERE: http://bit.ly/3vTiACF Follow us on X: https://twitter.com/BloombergRadio Subscribe to our Podcasts: Bloomberg Daybreak: http://bit.ly/3DWYoAN Bloomberg Surveillance: http://bit.ly/3OPtReI Bloomberg Intelligence: http://bit.ly/3YrBfOi Balance of Power: http://bit.ly/3OO8eLC Bloomberg Businessweek: http://bit.ly/3IPl60i Listen on Apple CarPlay and Android Auto with the Bloomberg Business app: Apple CarPlay: https://apple.co/486mghI Android Auto: https://bit.ly/49benZy Visit our YouTube channels: Bloomberg Podcasts: https://www.youtube.com/bloombergpodcasts Bloomberg Television: https://www.youtube.com/@markets Bloomberg Originals: https://www.youtube.com/bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake

Gold continues to compress within a symmetrical triangle as overlapping support and resistance levels cluster, suggesting an imminent breakout decision as volatility contracts near key moving averages.

Gold has dropped from $5,247 per ounce near the end of February to just over $4,500 now.

Gold continues to assert its dominance in global financial markets as an important monetary asset, with the European Central Bank highlighting a significant milestone for the precious metal.

Gold markets moved away from session highs as traders focused on stronger dollar and rising Treasury yields.

Gold continues to move opposite of rates on Tuesday, as we are still in the same pattern with rates being the opposite of price action in the gold markets. Position sizing is crucial in this market as well.

Gold market outlook improves as oil retreats, yields fall and the dollar stalls. Friday's jobs report could determine the next major move.

The debt of the world's biggest economy is no longer the primary reserve asset for central banks worldwide.

The ongoing US-Iran ceasefire allowed gold and silver to focus on technical recoveries. Gold defended $4,534 support with bullish continuation while silver surged above $76.55.

Gold prices edged lower in early trade. The precious metal's bias remains tilted slightly lower, said FOREX.com.