Gold price today: Stable waiting for new news!
Gold Update: In the early trading hours in Asia on Monday, the price of gold (XAU/USD) comfortably fluctuated around the $2,100 mark, receiving support from speculation that the Federal Reserve may cut interest rates by the end of this year. Investors are awaiting the release of the US Gross Domestic Product (GDP) data for the fourth quarter, which is expected to remain stable at 3.2% and potentially create new momentum. Currently, gold is trading around $2,168, marking a modest increase of 0.15% for the day.
Following the March meeting of the Fed, where they chose to maintain the benchmark interest rate between 5.25% and 5.50% for the fifth consecutive time, Fed Chair Jerome Powell hinted at a plan to cut interest rates three times in 2024, boosting investor interest in the precious metal and pushing gold prices higher. According to the CME FedWatch Tool, the likelihood of the Fed starting to cut interest rates in the June meeting has increased to 72% from 65% after the interest rate decision.
Personal Information: After the terrorist attack in Russia, the price of gold slightly increased, returning above $2,170. The market appears stable but may face a short-term decline between $2,150 and $2,180.
Following the March meeting of the Fed, where they chose to maintain the benchmark interest rate between 5.25% and 5.50% for the fifth consecutive time, Fed Chair Jerome Powell hinted at a plan to cut interest rates three times in 2024, boosting investor interest in the precious metal and pushing gold prices higher. According to the CME FedWatch Tool, the likelihood of the Fed starting to cut interest rates in the June meeting has increased to 72% from 65% after the interest rate decision.
Personal Information: After the terrorist attack in Russia, the price of gold slightly increased, returning above $2,170. The market appears stable but may face a short-term decline between $2,150 and $2,180.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.