Gold price approaches $3000
The US Federal Reserve (Fed) recently decided to loosen monetary policy after 4 years, by reducing interest rates by 50 basis points (0.5%), to 4.75-5%.
This agency emphasized that it is "always ready to adjust monetary policy if risks arise". Fed officials forecast the reference interest rate to decrease by another 0.5% by the end of this year and 1% next year. In 2026, they will reduce the interest rate by another 0.5% to 2.75-3%.
However, gold quickly fell, now at $2,556/ounce, just about the same as today. The gap between domestic and international gold prices is about VND5.4 million/tael.
Currently, investors are waiting for comments from Chairman Jerome Powell for more information on the main presentation. Robert Minter, chief investment strategist at Abrdn, said that in this new holiday, it is only a matter of time before gold surpasses $3,000/ounce.
This agency emphasized that it is "always ready to adjust monetary policy if risks arise". Fed officials forecast the reference interest rate to decrease by another 0.5% by the end of this year and 1% next year. In 2026, they will reduce the interest rate by another 0.5% to 2.75-3%.
However, gold quickly fell, now at $2,556/ounce, just about the same as today. The gap between domestic and international gold prices is about VND5.4 million/tael.
Currently, investors are waiting for comments from Chairman Jerome Powell for more information on the main presentation. Robert Minter, chief investment strategist at Abrdn, said that in this new holiday, it is only a matter of time before gold surpasses $3,000/ounce.
Note
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