What changes in gold price at the beginning of the new week?
Hello everyone!!
Today: Gold prices touched the $1990-1991 mark at the beginning of Monday and performed well in an upward trend on the 4-hour chart.
Instead of worrying about the Israel-Hamas conflict, the market will now shift its focus to the Federal Reserve's interest rate cuts, with the only question being when and how much. The catalyst for gold's sustained recovery will be lower interest rates in the US and a weaker USD, both of which are gradually taking shape. Difficulties in the bond market and hesitation from the Fed could significantly increase the price of gold.
Today: Gold prices touched the $1990-1991 mark at the beginning of Monday and performed well in an upward trend on the 4-hour chart.
Instead of worrying about the Israel-Hamas conflict, the market will now shift its focus to the Federal Reserve's interest rate cuts, with the only question being when and how much. The catalyst for gold's sustained recovery will be lower interest rates in the US and a weaker USD, both of which are gradually taking shape. Difficulties in the bond market and hesitation from the Fed could significantly increase the price of gold.
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