Gold prices continue to rise, but may experience short-term adjustments before establishing the next clear trend. To track fluctuations and predict the future of gold prices, let’s delve into the details with Livetrade Pro.
Gold Prices Continue to Fluctuate Amidst a Stronger USD
In the first trading session of the week, global gold prices surpassed the $2,500/oz mark, despite the strong appreciation of the USD. The market is currently focused on the monetary policies of central banks, especially the Fed, with expectations that interest rate adjustments could significantly impact gold prices in the near future.
Gold Price Movements and Pressure from the USD
Spot gold prices in New York increased by $9.7/oz, or 0.39%, reaching $2,507.9/oz. However, on the morning of September 10, gold prices slightly dropped to $2,505.1/oz. Despite the strong USD, with the Dollar Index reaching 101.55 points, gold prices remain high due to expectations of interest rate adjustments by the Fed.
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Interest Rate Predictions and Their Impact on Gold Prices
Forecasts suggest that the Fed may cut interest rates by 0.25 percentage points in the upcoming meeting, leading to fluctuations in gold prices around the $2,500/oz mark. Upcoming inflation reports will determine whether gold prices will continue to rise or fall in the short term.
Future Outlook for Gold Prices
If inflation decreases more than expected, gold prices could set new records. Even if the Fed only slightly reduces interest rates, gold prices may still maintain stability and long-term growth, thanks to expectations of monetary policy easing from the US and Europe.
Conclusion
Today’s gold prices are experiencing significant fluctuations, influenced by the strengthening USD and Fed policies. It is anticipated that gold prices may continue to adjust in the short term before establishing a clear upward or downward trend. Inflation signals and interest rate policies will be key factors influencing gold prices moving forward, presenting opportunities for investors to capitalize on the market.
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