Gold trades higher around $2,020 on investor caution
Gold price continues to move on an upward trajectory, trading higher around $2,020. The precious metal receives upward support from cautious investor sentiment amid speculation about the Fed's interest rate policy.
Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.
The price of Gold surged as the US Dollar depreciated on San Francisco Federal Reserve (Fed) President Mary C. Daly’s remarks at the Annual National Association for Business Economics Economic Policy Conference. She stated that three rate cuts are a reasonable baseline for 2024. Daly emphasized that it's premature to consider allowing the economy to run without intervention. Additionally, former Fed official James Bullard's suggestion that the Fed should consider lowering interest rates at the March meeting to prevent hindering economic activity due to higher rates is contributing to market sentiment.
Gold price continues to move on an upward trajectory, trading higher around $2,020. The precious metal receives upward support from cautious investor sentiment amid speculation about the Fed's interest rate policy.
Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.
The price of Gold surged as the US Dollar depreciated on San Francisco Federal Reserve (Fed) President Mary C. Daly’s remarks at the Annual National Association for Business Economics Economic Policy Conference. She stated that three rate cuts are a reasonable baseline for 2024. Daly emphasized that it's premature to consider allowing the economy to run without intervention. Additionally, former Fed official James Bullard's suggestion that the Fed should consider lowering interest rates at the March meeting to prevent hindering economic activity due to higher rates is contributing to market sentiment.