At the start of the trading session on June 21st, gold prices saw an uptick, spurred by market anticipations of an impending rate cut from the U.S. Federal Reserve, following weaker-than-expected retail sales data earlier in the week.
While gold may have lost some of its upward momentum, the overall market sentiment remains largely optimistic. Numerous hedge funds have pivoted towards gold, which has helped maintain a solid support level at $2,300 per ounce.
A significant pillar bolstering the gold market is its status as a safe-haven asset, providing a hedge against risk amid ongoing global geopolitical instability.
Gold Price Forecast
The gold market is poised for a resurgence as the Federal Reserve's monetary policy becomes more defined. With an expected shift in policy direction, investment demand from the West is likely to increase, potentially setting the stage for gold to soar.
While gold may have lost some of its upward momentum, the overall market sentiment remains largely optimistic. Numerous hedge funds have pivoted towards gold, which has helped maintain a solid support level at $2,300 per ounce.
A significant pillar bolstering the gold market is its status as a safe-haven asset, providing a hedge against risk amid ongoing global geopolitical instability.
Gold Price Forecast
The gold market is poised for a resurgence as the Federal Reserve's monetary policy becomes more defined. With an expected shift in policy direction, investment demand from the West is likely to increase, potentially setting the stage for gold to soar.
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