𝗚𝗼𝗹𝗱 𝗦𝘂𝗿𝗴𝗲𝘀 𝘁𝗼 𝗔𝗹𝗹-𝗧𝗶𝗺𝗲 𝗛𝗶𝗴𝗵 𝗮𝘀 𝗙𝗲𝗱 𝗥𝗮𝘁𝗲 𝗖𝘂𝘁𝘀 𝗮𝗻𝗱 𝗚𝗲𝗼𝗽𝗼𝗹𝗶𝘁𝗶𝗰𝗮𝗹 𝗧𝗲𝗻𝘀𝗶𝗼𝗻𝘀 𝗕𝗼𝗼𝘀𝘁 𝗗𝗲𝗺𝗮𝗻𝗱.
📊 Market Analysis
Product: XAU/USD
Prediction: Increase
Date : 24.9.2024
🟢Fundamental Analysis:
Gold prices reached a record high on Monday due to rising expectations that the Federal Reserve will cut interest rates significantly again, along with increasing tensions in the Middle East. On Monday, spot gold closed up nearly 0.3% at $2,628.38 per ounce, hitting a peak of $2,634.88 per ounce during the day, which is a new all-time high. The market is still reacting to the Federal Reserve’s recent 50 basis point rate cut. The Fed has indicated that it is not overly worried about inflation and is focused on keeping unemployment low. If jobs drop significantly, the market may believe the Fed will cut rates more aggressively, which would be good for gold prices. Additionally, instability in the Middle East could further push gold prices higher.
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Zaff Ismail
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