XAUUSD : The discount momentum is still intact
Greetings, everyone. Today, the price of gold hovers around $2058 USD, much unchanged from this time yesterday, yet the market sentiment leans toward a continued decline.
The Federal Reserve is widely expected to hold interest rates steady on Wednesday, with forecasts predicting a steady rate of 5.5%. However, traders are now shifting their focus to hints of potential monetary easing, as US inflation rates run hotter than expected. This has led to reduced bets on a rate cut in June, diminishing prospects for a gold rally.
The Federal Reserve is widely expected to hold interest rates steady on Wednesday, with forecasts predicting a steady rate of 5.5%. However, traders are now shifting their focus to hints of potential monetary easing, as US inflation rates run hotter than expected. This has led to reduced bets on a rate cut in June, diminishing prospects for a gold rally.
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