Gold: Expectation of Rate Cuts Drives Price Higher!
Hello everyone! Today i want to share some macro analysis with you!
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$Gold - main 2502(GCmain)$ $XAU/USD(XAUUSD.FOREX)$ On Tuesday (10 December), the price of gold surged nearly $34 to a two-week high, supported by rising geopolitical tensions to strong expectations of a Fed rate cut next week.
Gold prices surged towards $2,700 per ounce, supported by strong market expectations that the Federal Reserve will cut interest rates in December this year. Investors are now waiting for the key U.S. Consumer Price Index (CPI) data.
Gold closed surging $33.75, or 1.27 per cent, at $2,693.78 per ounce on Tuesday.
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