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Gold Continues Winning Streak Amidst Fed Rate Cut Expectations
Gold continued its triumphant streak for the third consecutive day on Monday. From a technical analysis perspective, buyers have not yet reached any specific target, but overall, they are approaching it. For instance, within the current bearish corridor, the area around $2040 appears to be an attractive target, where the upper bound of the channel lies: chart Fed Bostic's forward guidance, suggesting a potential easing of interest rates from summer onwards contingent upon improvements in underlying inflation measures, has further catalyzed gold's ascent. This guidance has effectively diminished the expected ... (full story)