Gold prices could rise to a new high of $2,600 an ounce before the market sees profit-taking selling pressure.
The market is currently reacting too positively to the expectation of interest rate cuts. Investors expect the Fed to cut interest rates this September and again by the end of the year. Investors are confident in the prospects of gold from now until the end of the year.
The market is currently reacting too positively to the expectation of interest rate cuts. Investors expect the Fed to cut interest rates this September and again by the end of the year. Investors are confident in the prospects of gold from now until the end of the year.
Note
SELL XAU 2510TP1: 2503
TP2: 2495
SL: 2517
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.