VanEck Merk Gold Trust

OUNZ

Market cap $3.15B

Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.

Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.

Gold is consolidating near the 20-day moving average after a rising wedge breakout, testing critical support levels while a sharp correction hints at further potential downside.

Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.

The gold market tried to rally this past week but couldn't keep up the momentum. At this point, we could see a pullback, but that could end up being a buying opportunity.

Gold prices are moving higher as traders react to economic reports and geopolitical developments.

Markets are highly vulnerable to significant disruptions in the coming weeks, which could trigger a liquidity event or broader systemic shock that temporarily pulls precious metals lower.

The gold market initially rallied during the trading session on Friday only to turn things around in the European sessions as we have seen multiple times.

Gold prices face pressure as rising oil fuels inflation fears and the Fed delays rate cuts. Traders watch policy signals for the next move in XAU/USD.

Gold and silver rose after weak jobs data were reported.