Gold Analysis: Gold Hits New Record High – 18 July 2024
-- Gold hit a new all-time high as it moved towards the
-- On Monday,
-- He added that the central bank would not wait until inflation hits 2% before starting to cut interest rates.
-- This sentiment was echoed by Federal Reserve Governor
In general, financial markets are fully expecting the Fed to cut rates at its September meeting, according to the CMEās FedWatch tool, with traders preferring to bet on three 25 basis point rate cuts instead of two this year. Moreover, expectations that other major central banks in
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As for the factors affecting the gold market, the dollar price is at its lowest level in 4 months. According to electronic trading platforms, the dollar index fell to 103.7 on Wednesday, extending its losses for a second day to reach a low level not seen in about four months, as traders will fully price in the
According to forex trading, dollar was the most bearish against the Japanese yen, falling by about 1.3%. The dollar also lost ground against the British pound after the
Another factor affecting gold, the yield on the US 10-year bond is hovering at its lowest level in 4 months. According to the trading, the yield on the US 10-year
Also, Fed Governor
Gold Price Forecast and Analysis Today: ;
According to the daily chart above, the overall upward trend for gold prices is strengthening, with recent gains pushing technical indicators towards strong overbought levels. Furthermore, Profit-taking sales will not occur without a recovery in the
Ready to trade todayās Gold prediction? Hereās a list of some of the best XAU/USD brokers to check out. ;
Original Source DailyForex.com provides daily fundamental and technical analysis and signals for those looking to trade based on trends in the currency markets.
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USD/JPY Analysis: A Bearish Channel Begins to Form – 18 July 2024
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