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Analyst: If the Fed Confirms Multiple Rate Cuts, Gold Prices May Reach New Heights
Summary: According to sources, on Tuesday, driven by a weaker US dollar and market expectations of multiple rate cuts by the Federal Reserve, gold prices surged to over $3700 per ounce, hitting a historic high. Eric Chia, a strategist at brokerage firm Exness, stated that if the Fed's policy guidance falls short of market expectations for ...
According to sources, on Tuesday, driven by a weaker US dollar and market expectations of multiple rate cuts by the Federal Reserve, gold prices surged to over $3700 per ounce, hitting a historic high.
Eric Chia, a strategist at brokerage firm Exness, stated that if the Fed's policy guidance falls short of market expectations for a dovish stance, gold may face selling pressure in the short term. However, if the Fed confirms multiple rate cuts, it will provide support for gold prices, potentially leading to new record highs.
In addition, central banks around the world continue to buy gold, inflows into gold ETFs, and escalating geopolitical tensions have increased demand for safe-haven and inflation-hedging assets, all contributing to the recent rise in gold prices.
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Link: Analyst: If the Fed Confirms Multiple Rate Cuts, Gold Prices May Reach New Heights [Copy]
