Gold higher as tensions grow in Middle East and on global dovishness

Gold appears to have a lot going for it today.  Dovish signals from the RBA and ECB further cement easing money will flow globally, as markets brace for the FOMC decision which is expected to see the Fed prepare the markets for their own rate cuts.  Safe-haven flows are also benefiting as tensions continue to grow in the Middle East, although expectations still remain low for a full-fledged war between the US and Tehran.  The yellow metal appears poised to test the recently made 14-month highs.

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Ed Moya

Ed Moya

Senior Market Analyst at OANDA
With more than 20 years’ trading experience, Ed Moya is a market analyst with OANDA, producing up-to-the-minute fundamental analysis of geo-political events and monetary policies in the US, Europe, the Middle East and North Africa. Over the course of his career, he has worked with some of the world’s leading forex brokerages and research departments including Global Forex Trading, FX Solutions and Trading Advantage. Most recently he worked with TradeTheNews.com, where he provided market analysis on economic data and corporate news. Based in New York, Ed is a regular guest on several major financial television networks including BNN, CNBC, Fox Business, and Bloomberg. He is often quoted in leading print and online publications such as the Wall Street Journal and the Washington Post. He holds a BA in Economics from Rutgers University. Follow Ed on Twitter @edjmoya ‏
Ed Moya