After a sharp fluctuation in gold prices, it has once again risen above $2510. FXStreet's Chief Analyst: Gold is aiming for a historical high.
In the Asian market on Thursday, spot gold rebounded after falling during the overnight New York session, and currently the price of gold is trading around $2513 per ounce. Valeria Bednarik, Chief Analyst at FXStreet, wrote that as the gold price breaks back above $2510 per ounce, the target is to retest the record high area of $2530 per ounce.
Express News | According to CryptoQuant, the trend of bitcoin has decoupled from gold, with investors seeming to prefer gold.
USA CPI suppresses the expectation of a substantial interest rate cut, and the gold price may need some time to reach a new historical high again.
Gelonghui September 11th | As the US inflation data prompted investors to lower their expectations for a significant rate cut by the Federal Reserve next week, the US dollar and US Treasury yields strengthened, causing gold prices to fall.
Will gold never sleep? Regardless of the script of the usa election, the price of gold is expected to continue to rise.
Ole Hansen, Head of Commodities Strategy at Saxo Bank, said that geopolitical risks, fiscal concerns, and potential changes in monetary policy, especially after the US presidential election, together constitute the bullish reasons for gold as a hard asset.
Gold Futures End Higher, Buoyed By Expectations Surrounding US CPI Data
ING Group: Gold will reach a new high this month, aiming for 2700 next year!
ING predicts that the first rate cut by the Federal Reserve is enough to push the gold price to a new historical high, with an average spot gold price of $2580 in the fourth quarter.