Gold has broken above $3,400 for the first time, setting a new all-time high as investor confidence in the United States continues to decline.
Citi forecasts gold could reach $3,500 within the next three months. However, this projection might be underestimating Trump’s potential to further undermine confidence in the US.
On Monday, President Trump intensified pressure on Federal Reserve Chair Jerome Powell, calling him a “major loser” and demanding immediate interest rate cuts. Last week the President said, "Powell's termination cannot come fast enough,".
A move to dismiss Powell would likely trigger significant market volatility. Markets generally view Powell as a stabilizing figure, and history shows that a less independent central bank is less effective at keeping inflation under control.
I think it might be fair to wonder what a Federal Reserve Chairman Kid Rock would do for the price of gold.
Citi forecasts gold could reach $3,500 within the next three months. However, this projection might be underestimating Trump’s potential to further undermine confidence in the US.
On Monday, President Trump intensified pressure on Federal Reserve Chair Jerome Powell, calling him a “major loser” and demanding immediate interest rate cuts. Last week the President said, "Powell's termination cannot come fast enough,".
A move to dismiss Powell would likely trigger significant market volatility. Markets generally view Powell as a stabilizing figure, and history shows that a less independent central bank is less effective at keeping inflation under control.
I think it might be fair to wonder what a Federal Reserve Chairman Kid Rock would do for the price of gold.
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Economic Calendar:
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Free TradingView Premium:
blackbull.com/en/platforms/tradingview/?utm_source=tradingview
blackbull.com/en/economic-calendar/?utm_source=tradingview
Free TradingView Premium:
blackbull.com/en/platforms/tradingview/?utm_source=tradingview
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.