- $2,000 an ounce is proving to be solid resistance for gold; however, according to one fund manager, it's only a matter of time before the precious metal pushes back to record highs.
The comments come as gold prices hold solid support above $1,950 an ounce. April gold futures last traded at $1,968.50 an ounce, up 0.75% on the day. Gold prices have maintained their bullish uptrend as markets look for the Federal Reserve to cut interest rates as early as June. The market is pricing in the potential for four rate cuts by year-end, which is at odds with comments from central bank head Jerome Powell who said he expects to hold rates unchanged through the rest of 2023.
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