Goldman Sachs has reaffirmed its bullish outlook on gold prices due to the increasing central bank demand and the approaching start of interest rate cuts in the United States.
September 17, 2024, 9:53 AM GMT+9 (excerpt)
On the 16th, Goldman Sachs once again indicated a bullish outlook on gold prices, citing the increasing central bank demand and the upcoming start of interest rate cuts.
On the 16th, the gold market reached a record high of 2589.6 dollars per ounce, supported by a weaker dollar and anticipation of a significant rate cut by the Federal Reserve Board (FRB).
According to CME's FedWatch Tool, the market is currently pricing in a 33% chance of a 25 basis point (bp) rate cut and a 67% chance of a 50 bp rate cut at the Federal Open Market Committee (FOMC) on the 17th to 18th.
On the 16th, the gold market reached a record high of 2589.6 dollars per ounce, supported by a weaker dollar and anticipation of a significant rate cut by the Federal Reserve Board (FRB).
According to CME's FedWatch Tool, the market is currently pricing in a 33% chance of a 25 basis point (bp) rate cut and a 67% chance of a 50 bp rate cut at the Federal Open Market Committee (FOMC) on the 17th to 18th.
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