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Gold, Silver, Platinum Forecasts – XAU/USD Hits Record High Ahead of Fed Policy Moves
Gold reached a record high on Tuesday, driven by expectations of U.S. monetary easing and ongoing geopolitical risks, attracting momentum-driven funds. The demand is further supported by robust fundamentals, including strong Asian physical demand, central bank purchases, and its safe-haven status. StoneX’s Rhona O’Connell noted the self-fulfilling nature of this move, as it triggered stops and attracted momentum funds. Technically, gold could rise to $2,180, a Fibonacci projection. The upcoming economic data and Fed Chair Powell’s testimonies are pivotal, according to Heraeus’ Alexander Zumpfe. Independent ... (full story)