Gold is maintaining prices around the resistance level of 2,400
A look at traders' recent bets shows growing skepticism that the Fed will lower interest rates multiple times in 2024. According to the CME FedWatch Tool, investors predict a 63% chance of a Fed cut. reduce interest rates next November.
Gold is traditionally seen as a hedge against inflation, but higher interest rates increase the opportunity cost of holding gold, which is a non-yielding asset.
The ambiguity in the FED's monetary policy can make it difficult for gold to "take off" and future developments depend heavily on data. However, the expert continues to maintain optimism about gold.
This morning, the USD-Index increased slightly to 104.72 points; 10-year US Treasury bond yield decreased slightly to 4.566%; US stocks fluctuated mixed
Gold is traditionally seen as a hedge against inflation, but higher interest rates increase the opportunity cost of holding gold, which is a non-yielding asset.
The ambiguity in the FED's monetary policy can make it difficult for gold to "take off" and future developments depend heavily on data. However, the expert continues to maintain optimism about gold.
This morning, the USD-Index increased slightly to 104.72 points; 10-year US Treasury bond yield decreased slightly to 4.566%; US stocks fluctuated mixed
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💵 TP1 2350
💵 TP2 2355
❌ SL 2335