NicoTradingMaster

NicoTradingMaster

The global XAU price has retreated from a recent record high on September 30, but is still set for its biggest quarterly gain in more than eight years on geopolitical tensions and a rate cut by the US Federal Reserve. Investors are looking ahead to this week’s US jobs report and non-farm payrolls data due later this week. Bullion’s gains on Monday were limited...

NicoTradingMaster

Notably, the US manufacturing purchasing managers index (PMI) for September fell short of forecasts and the previous month. The personal consumption expenditures (PCE) price index for August fell sharply from 2.5% in July to 2.2% year-over-year. The PCE price index for August also fell from 0.2% to 0.1%. Personal spending fell sharply from 0.5% in July to 0.2%....

NicoTradingMaster

The PCE index is a measure of inflation based on changes in personal consumption expenditures and is used by the Fed as its preferred indicator of inflation. Personal spending can reflect consumer confidence. This week's US jobs report is important, according to Marc Chandler, CEO of Bannockburn Global Forex. He said that if the market receives a negative report...

NicoTradingMaster

The upcoming US presidential election could boost gold prices due to market uncertainty, making it a safe-haven option for investors. Despite some selling pressure to lock in profits, gold prices remained steady after hitting a new record on Wednesday. Investors believe that upcoming comments from Fed Chairman Jerome Powell and US inflation data will support...

NicoTradingMaster

The expert said that the price of gold is likely to exceed 2,700 USD/ounce, as early as this weekend, if there is more information about the US Federal Reserve (FED) continuing to cut interest rates and Middle East tensions continuing to escalate.

NicoTradingMaster

we are seeing a price setup from XAU and the price is getting higher every day, every day there is a price record expect that if the trend of interest rate cuts and political tensions in the Middle East continue to escalate, there is a possibility that gold will rise to $3,000/ounce in the medium term Speculation surrounding the possibility of some new moves by...

NicoTradingMaster

Gold prices surged to a record high last week after the US Federal Reserve cut interest rates and have largely continued to rally Moreover, gold rose as markets priced in a doubling of the Fed’s chances of cutting rates before Christmas. The probability of another 50 basis points (0.50%) cut at the next meeting in November now stands at 51.6%, compared with 48.4%...

NicoTradingMaster

retail investors are bullish on gold’s potential upside. Industry experts are split on short-term bullish and bearish sentiment. Marc Chandler, CEO of Bannockburn Global Forex, predicts that gold prices will trend sideways this week. Gold has hit its target of $2,600 an ounce after the Fed cut interest rates. The gold market will be less active as investors take profits.

NicoTradingMaster

The trend of monetary easing and gold buying by central banks, along with geopolitical tensions, have boosted the price of this precious metal. The main event this week that has a strong impact on gold prices is the US core personal consumption expenditure (PCE) index for August, which is an important inflation measure of the Fed.

NicoTradingMaster

The half-point decision was made after considering inflation, economic data and risks. Along with the policy pivot, many economists noted that there will be more than one rate adjustment this year. Accordingly, the dot-plot chart shows the central bank expects rates to fall to 4.4% by the end of the year, down from the 5.1% estimate in June.

NicoTradingMaster

Gold rose slightly in early trading after reversing sharply lower yesterday. Gold benefited from the sharp decline in the US dollar and government bond yields following the Fed policy decision, with the metal surging more than $30 to a new all-time high of $2,600.14. However, the recovery in the US dollar and yields during and after Mr. Powell's press conference...

NicoTradingMaster

Gold prices are always sensitive to US interest rate adjustments. A weaker USD makes gold more attractive to investors. In case the Fed cuts interest rates by 25 basis points, gold prices could reach the target of $2,700/ounce by early 2025. Gold prices broke the technical level above $2,550/ounce. Investors are optimistic about the prospect of the Fed preparing...

NicoTradingMaster

Markets are looking ahead to the Federal Open Market Committee (FOMC) meeting, followed by a press conference by Fed Chairman Jerome Powell. Investors are expecting the Fed to cut interest rates by 50 basis points. The CME FedWatch tool predicts a 100% chance of a rate cut in September, with 63% for a 50 basis point cut and 37% for a modest 25 basis point cut....

NicoTradingMaster

The Fed raised interest rates to curb inflation, which peaked at a historic 9.1% in June 2022. Maintaining very high interest rates over the past two years has caused many difficulties for Americans, and the economy has recently shown many negative signs, affecting the labor market. Many experts are worried that the US economy will fall into recession. Over the...

NicoTradingMaster

According to signals from the Fed and the market, in this meeting, the US Central Bank will cut the operating interest rate for the first time since March 2020. Previously, the Fed had raised interest rates 11 times, from March 2022 to September 2023, bringing interest rates from a record low of 0-0.25%/year to the current 5.25-5.5%. The Fed raised interest rates...

NicoTradingMaster

The US CPI in August increased by 2.5% compared to the same period last year, lower than the forecast of 2.6% and down significantly from 2.9% in July. According to experts, the CPI report in August shows that the US core inflation is still high, not enough to make the Fed decide to cut interest rates by 50 basis points.

NicoTradingMaster

XAU could be at risk as the market overestimates a 50 basis point Fed rate cut, which could turn investors away from gold. The odds of a 25 basis point Fed rate cut are now down to 59% from over 70% last week.

NicoTradingMaster

The consensus among analysts, economists, and market watchers is that a rate cut is almost certain. According to CME FedWatch, the market is currently pricing in a 73% chance of a 25 basis point cut and a 27% chance of a 50 basis point cut.