said the gold market is focused on the Fed's interest rate cut. Since the beginning of the year, gold prices have increased by more than 20%, as investors expect the Fed to cut interest rates soon.
"Gold prices are still rising despite high interest rates. Data shows that gold prices have been stable for a long time even before the Fed did not cut interest rates
When interest rates decrease, gold tends to increase. Investors see this as a tool to hedge against inflation.
The strong gold market is also thanks to central banks actively buying to reduce dependence on the USD. This positively supports gold prices to reach new peaks.
"Gold prices are still rising despite high interest rates. Data shows that gold prices have been stable for a long time even before the Fed did not cut interest rates
When interest rates decrease, gold tends to increase. Investors see this as a tool to hedge against inflation.
The strong gold market is also thanks to central banks actively buying to reduce dependence on the USD. This positively supports gold prices to reach new peaks.
Note
BUY XAU 2510TP1: 2516
TP2: 2526
SL: 2502
Note
Running + 50 pips Note
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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.