Gold: The Upward Momentum Remain Limited as the 25BP Rate Cut
Hello everyone! Today i want to share some macro analysis with you!
1.
Friday (8 November) in the Asian market, spot gold short-term sudden sharp fall, the gold price just fell below the 2700 U.S. dollars / ounce mark; the last trading day gold prices surged nearly 2%! Despite the strong rebound in gold prices on Thursday, gold's bullish potential remains limited.
On Thursday, spot gold surged more than 47 U.S. dollars, the federal reserve interest rate cuts to the dollar and bond yields under pressure, and boost the investment attractiveness of non-interest-bearing gold.
The fed announced on Thursday will benchmark interest rate cut 25 basis points to 4.50%-4.75%, for the second consecutive rate cut, in line with market expectations.
For the pace of rate cuts, Fed Chairman Jerome Powell said the Fed may accelerate the pace of rate cuts if the labour market weakens or slows near neutral. $Gold - main 2412(GCmain)$ $XAU/USD(XAUUSD.FOREX)$
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