Gold market remains bullish after hitting record highs above $2,080, but volatility could increase

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 57 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 78%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Gold market remains bullish after hitting record highs above $2,080, but volatility could increase volatility gold economy

- A growing consensus in financial markets that the Federal Reserve has finished its tightening cycle will continue to support a sustainable move in gold to new all-time highs, according to some analysts.

Commodity analysts at TD Securities have said that they are not fading the gold rally as the price has the potential to move higher. They noted that with the market looking for the Fed to cut rates as early as September and through next year, gold is just on the cusp of a new bull market. "We on the committee have a view that inflation is going to come down not so quickly," Powell said in his press conference Wednesday."It will take some time, and in that world, if that forecast is broadly right, it would not be appropriate to cut rates and we won't cut rates."

However, Hansen added that he remains long-term bullish on gold. He noted that the current banking crisis, further weakness in the U.S. dollar, solid central bank demand, stubborn inflation, and ongoing geopolitical uncertainty are all factors providing long-term support for gold. Ipek Ozkardeskaya, senior analyst at Swissquote, said that gold's rally will depend on the trajectory of bond yields, which along with the Fed's monetary policies, will be impacted by the ongoing banking crisis and lending conditions tighten.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 13. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

GDP will go negative as market reaches new all-time highsKitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry.
Källa: KitcoNewsNOW - 🏆 13. / 78 Läs mer »