Recession is likely later this year due to bad debt going into default, and recession is usually good for gold, which serves as a safe-haven metal. More importantly, futures markets are predicting either a 0.25% or 0.5% interest rate cut on the next Fed meeting. That's a surge from yesterday, when futures traders were broadly predicting only 0.25% cut. A larger interest rate cut would be bullish for gold and would also contribute to recovery in other commodities markets such as oil.
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Yep!
