POST FOMC PRICE PROJECTION FOR GOLD IN NEXT 15 DAYS
Gold prices have hit a fresh all-time high of $2600 per ounce due to Fed rate cut. The recent inflation data, including moderate increases in the consumer price index (CPI) and producer price index (PPI), has "set the stage" for a 25-basis-point cut in December 2024🏆
Michael Armbruster from Altavest noted that these inflation metrics, aligned with forecasts, support the likelihood of a moderate rate cut. Investors are flocking to gold as a safe-haven asset, leading to its 34th all-time high this year. 📈 Analysts suggest that further gains are possible if the Fed opts for a larger cut(Expected Range Could be: $2640-$2680)?. As lower rates reduce the opportunity cost of holding gold(Expected Range Could be :$2499-$2430)?, making it more attractive to investors seeking stability.
Sell at : $2599-$2619-$2638-$2650
Buy at :$2525-$2480-$2460-$2440
Michael Armbruster from Altavest noted that these inflation metrics, aligned with forecasts, support the likelihood of a moderate rate cut. Investors are flocking to gold as a safe-haven asset, leading to its 34th all-time high this year. 📈 Analysts suggest that further gains are possible if the Fed opts for a larger cut(Expected Range Could be: $2640-$2680)?. As lower rates reduce the opportunity cost of holding gold(Expected Range Could be :$2499-$2430)?, making it more attractive to investors seeking stability.
Sell at : $2599-$2619-$2638-$2650
Buy at :$2525-$2480-$2460-$2440
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.