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Gold is Poised for Historic Breakthroughs
The price of gold is approaching an all-time high as investors accelerate their bets that the Federal Reserve will start cutting US interest rates next year. Accordingly, the price of gold (XAU/USD) moved strongly upward with gains that reached the resistance level of $2052 per ounce, the highest price in six months. Generally, traders are increasingly preparing for a sharp economic downturn and strong easing of US Federal Reserve policy in the coming year. Recently, the speculators in the US Treasury bond market are now the most bullish ever, according to a weekly survey conducted by JP Morgan Chase & Co. since ... (full story)
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- Posted: Nov 30, 2023 7:00am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 376
