Gold prices are always sensitive to US interest rate adjustments. A weaker USD makes gold more attractive to investors. In case the Fed cuts interest rates by 25 basis points, gold prices could reach the target of $2,700/ounce by early 2025.
Gold prices broke the technical level above $2,550/ounce. Investors are optimistic about the prospect of the Fed preparing to cut interest rates.
Gold prices broke the technical level above $2,550/ounce. Investors are optimistic about the prospect of the Fed preparing to cut interest rates.
Note
BUY gold 2562Tp2: 2570
TP2: 2577
SL: 2554
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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.