Gold markets initially surged higher during the trading week, challenging the $2,500 region before retreating to around the $2,400 level. This area, which previously acted as major resistance, is now ... View MoreGold markets initially surged higher during the trading week, challenging the $2,500 region before retreating to around the $2,400 level. This area, which previously acted as major resistance, is now providing significant support. Even if gold prices dip below $2,400, the $2,300 level is another key support area. Gold hit a new all-time high as it approached the $2,483 resistance level per ounce, driven by growing optimism that the Federal Reserve will cut US interest rates as early as September.
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Gold Price Forecast | Inflation and Fed Rate Cuts in Focus
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Gold has reached its $2435 target, with potential to retest $2450 depending on market movements and upcoming economic data. Federal Reserve Chair Jerome Powell's recent remarks highlight increased con... View MoreGold has reached its $2435 target, with potential to retest $2450 depending on market movements and upcoming economic data. Federal Reserve Chair Jerome Powell's recent remarks highlight increased confidence in achieving the 2% inflation target and suggest possible near-term rate cuts. As the labor market shows signs of softening, the Fed aims to balance inflation control with economic stability.
https://www.stforextrading.com/2024/07/gold-xauusd-sentiments-jerome-powell-on.html
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Gold (XAU/USD) Sentiments | Jerome Powell on Inflation | Forex Market
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