The possibility of a US interest rate cut in June - a recovery scenario at the beginning of the year - has become slim in the past few weeks, with the market swap now only 16%. Reassuringly, some traders have posited that the Fed will not cut interest rates this year.
Gold is still up about 17% since mid-February, despite signs that the Fed's much-anticipated policy turnaround will be delayed. Instead, it is supported by a possible political rally, a surge in buying activity by China's central banks and retailers.
Gold trades at par at $2,321.53 per ounce.
Gold is still up about 17% since mid-February, despite signs that the Fed's much-anticipated policy turnaround will be delayed. Instead, it is supported by a possible political rally, a surge in buying activity by China's central banks and retailers.
Gold trades at par at $2,321.53 per ounce.
Note
BUY XAU 2318 - 2315TP1: 2328
TP2: 2338
SL: 2306
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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.