Gold News – 26.Aug.2024
Gold News
Gold Price: Gold is currently trading around $2,525 per ounce, near record levels, due to expectations of an interest rate cut in September.
Federal Reserve Stance: Jerome Powell indicated that the Fed is ready to adjust rates based on future economic data, noting reduced inflation risks but increased job market risks.
FOMC Confidence: The FOMC is more confident that price growth is nearing the 2% target, supporting the case for lower borrowing costs.
Market Expectations: Markets are split on whether the Fed will cut rates by 25bps or 50bps in September but anticipate a total of 100bps in cuts by year-end, reducing the opportunity cost of non-interest-bearing assets.
Geopolitical Influence: Gold’s safe-haven appeal is strengthened by fears of a broader conflict in the Middle East.
Author : Arman Shaban
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