Fed enters interest rate cutting cycle

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Gold is taken into consideration a beneficiary whilst the United States Federal Reserve (Fed) enters a cycle of hobby charge cuts, which might also additionally begin from September 17-18. Lower hobby prices will motive the USD to depreciate in opposition to a basket of different predominant currencies. Gold will then boom in price.

Many forecasts say that gold will reach $2,600/ounce, or even $2,seven hundred with the aid of using the give up of this 12 months or early 2025.

In a latest forecast, Goldman Sachs stated that spot gold fees will reach $2,seven hundred/ounce (VND82.2 million/tael) with the aid of using early 2025. The modern unstable surroundings is stated to be a element to be able to push gold up, despite the fact that this commodity has set new information dozens of instances due to the fact that the start of 2024.
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SELL XAU 2520

TP1: 2512
TP2: 25004
SL: 2527
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Hit TP 2 + 160 pips

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