Gold price continues to be under pressure from Fed !New Insights on Fed Kashkari's Impact on Gold Prices in 2024
According to Fed Kashkari's forecast, the number of interest rate cuts in 2024 will not exceed two. This can affect gold prices in the following ways:
🔴 Gold prices may not rise significantly as interest rates remain higher than some investors expected, reducing the attractiveness of gold compared to interest-bearing assets.
🔴 The demand for inflation hedging may not increase significantly, leading to reduced upward pressure on gold prices from this factor.
🔴 Market sentiment may remain stable, keeping gold demand at current levels as a safe haven asset.
🔴 The US dollar may not weaken significantly, reducing the attractiveness of gold for international investors.
=> Overall, the impact on gold prices will depend on how the market reacts to Fed announcements and policies, as well as other global economic factors.
Stay tuned to the news for the latest updates!