gold new highs against the rate cuts
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge. Investors are gaining confidence in Gold as they anticipate three rate cuts from the US Federal Reserve (Fed) in the coming months. With ongoing tension in middle east plus rate cuts easing give a buy side bias to fresh new heights' of the upper trend line where i anticipated for bears getting in momentum overwhelming buyer to new low (reversal).
The CME FedWatch Tool shows that markets are currently pricing in a nearly 40% probability that the Fed will leave the policy rate unchanged in June so probably a knee jerk reaction thus why i have two trades anticipated for long n short
The CME FedWatch Tool shows that markets are currently pricing in a nearly 40% probability that the Fed will leave the policy rate unchanged in June so probably a knee jerk reaction thus why i have two trades anticipated for long n short
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