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Gold has headwinds but the outlook is bright
The gold price tends to rise following the first cut of US interest rate cycles. On average since 1984, one calendar year after the Federal Reserve first cuts its rate after a hiking cycle, gold is 10% higher than the day of the decision to reduce interest rates, and after two years is 18% higher. The dollar tends to weaken, yields on US Treasuries fall, and the economy tends to have deteriorated. All of these elements can act as a tailwind for the gold price. After the 10-year yield peaks, it is only a matter of time before Fed Chair Jerome Powell reduces the Federal Funds Target Rate. The last rate hike of the ... (full story)
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- Posted: Oct 3, 2023 8:33am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 231
