Bullish factors are stacking up, institutions suggest that the gold price may reach its peak in the fourth quarter!
Market expectations of a Fed rate cut in September. The first of two major US inflation reports this week was released yesterday. US July PPI slowed significantly, rising 2.2% year-on-year, below expectations of 2.3% and the previous 2.6%, with a month-on-month increase of 0.1%, lower than the previous and expected 0.2%. Analysts said that the PPI data further indicates that inflation has reversed, and the expectation of a Fed interest rate cut is rising. According to CME's "Fed Watch": The probability of a 25 basis point rate cut by the Fed in September is 46%, and the probability of a 50 basis point rate cut is 54%. The probability of a cumulative 50 basis point rate cut by the Fed by November is 29.6%, and the probability of a cumulative 75 basis point rate cut is 51.2%, with the probability of a cumulative 100 basis point rate cut at 19.2%.
CPI Carnival Night? The market is very dovish, and gold may open up new territory!
Several key parts of the CPI report indicate that the anti-inflation trend is expected to continue, supporting expectations of a significant Fed rate cut. Will the gold bulls pursue the 2,500 level?
USA CPI is coming, targeting a gold price of $2500! FXStreet analyst's gold trade analysis.
#Gold Technical Analysis# 24K99 News, during the early European trading on Wednesday (August 14th), spot gold accelerated its short-term rise, and the price of gold just broke through the $2470/oz mark.
Gold: Host of Tailwinds to Give Metal New Shot at ATH With $2,600 in Sight
"Gold is expected to see a major breakthrough in technical aspects"! Legendary trader gives two key bullish targets.
Legendary trader Peter Brandt said that based on the inverse head and shoulders pattern showing a call trend, the price of gold is expected to have a major technical breakthrough on the chart. According to Brandt, the key price targets for gold are $2,800/ounce and $3,200/ounce.
Gold is “back to kill”! ANZ Bank predicts that the year-end gold price will rise to 2550 US dollars.
Gold futures reached a new record high in the near-month contract on Tuesday, as market optimism for the Fed's interest rate cut path was strengthened by the moderate and sustained inflation shown by the US Producer Price Index (PPI) data.