Gold price increases rapidly!

Hello everyone, yesterday witnessed a dramatic surge in global gold prices, hitting a high of $2,233 per ounce on March 29th, just before the Easter holiday.

This significant increase of 1.8% in a single day and over 9% in March is attributed to signals from the Federal Reserve (Fed) of the United States indicating potential rate cuts thrice within the year. Market anticipations lean towards rate reductions in June, November, and December.

Apart from the anticipations of Fed's rate cuts, geopolitical tensions have also played a pivotal role in bolstering gold's appeal, driving investors towards it as a haven for preserving asset value.

Although the Easter holiday has paused market activities today, the release of the Personal Consumption Expenditures (PCE) index later this evening remains a focal point. The market harbors hopes for a decline in the PCE, potentially accelerating the Fed's decision to lower rates.

"However, before ascending to new record highs, it's plausible that gold may experience a dip next week, only to rally once again."