Gold price continues to set a new record!
Today's Gold Trading Strategy:
On the global market today, gold prices have soared to a new peak of $2,197 per ounce, marking a significant increase of $40 per ounce from early morning. This has set a new record for the highest price in history.
The meteoric rise in gold prices comes as the Federal Reserve opts to keep interest rates stable in its latest meeting, with hints at a potential rate cut of three-quarters of a percent by the end of 2024.
The drop in the US Dollar Index following the Fed's decision has made gold even more attractive to international buyers, while the decline in 10-year Treasury yields reduces the opportunity cost of holding gold, fueling its upward trajectory.
On the global market today, gold prices have soared to a new peak of $2,197 per ounce, marking a significant increase of $40 per ounce from early morning. This has set a new record for the highest price in history.
The meteoric rise in gold prices comes as the Federal Reserve opts to keep interest rates stable in its latest meeting, with hints at a potential rate cut of three-quarters of a percent by the end of 2024.
The drop in the US Dollar Index following the Fed's decision has made gold even more attractive to international buyers, while the decline in 10-year Treasury yields reduces the opportunity cost of holding gold, fueling its upward trajectory.
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