The Fed meeting gave all investors the early Christmas gift they've been waiting for. The Fed is expected to cut interest rates, and the dollar will weaken next year, pushing yields lower. This is truly the golden age of precious metals.
Going into 2024, the general environment for physical gold remains favorable and the commodity is expected to make good progress.
Spot gold prices hit new highs earlier this month, rising above $2,100/oz in the short term and recently to around $2,030/oz. Going forward, there will be plenty of opportunities for gold to move further into historic top territory.
Going into 2024, the general environment for physical gold remains favorable and the commodity is expected to make good progress.
Spot gold prices hit new highs earlier this month, rising above $2,100/oz in the short term and recently to around $2,030/oz. Going forward, there will be plenty of opportunities for gold to move further into historic top territory.
Note
SELL XAU 2035TP1: 2020
TP2: 2010
SL: 2050
Note
The USD news data is good but gold is still affected by many other factors: funds, the war continued
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.