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Debon Securities: Interest rate cut expectations boost gold price prospects to $2,600.
The estimated price for gold in the first quarter of 2024 is expected to be $2694.3 per ounce. As the calculation process of gold prices involves variables that change relatively slowly in the short term, the current price target for gold can still be referenced at $2600 per ounce.
Gold Prices Rise on Fed Rate Cut Hopes
This Just Isn't the Same Gold Market as a Few Months Ago – TDS
Powell Doves + Middle East Tensions Gold Sets New Historic High on Wednesday's Closing.
The most active gold futures in trade rose on Wednesday and reached a historic high at the close, due to the increased tensions in the Middle East and the signal of a rate cut from the Federal Reserve.
Northeast Securities: Interest rate reduction transactions are nearing the end, with short-term fluctuations in gold prices and long-term value configuration highlights.
In the short term, interest rate cuts still have some trade value, but they are also nearing the end. Before the market finds new trading directions, there may be a stage of logic vacuum. At the same time, Harris' candidacy may add uncertainty to the election, thereby affecting Trump's trade. The short-term volatility of gold prices may increase.
Middle East tensions have triggered a safe-haven demand, and gold has surged to nearly historical highs at $2400.
Boosted by safe-haven demand, gold futures soared on Tuesday.
