Polakandil
Well-known member
The Fed's decision at yesterday's meeting finally held interest rates unchanged at 5.25-5.50% for the fifth time in a row. The Fed also emphasized that it would wait for more supporting data before cutting its benchmark interest rate.
As predicted by the market, it seems that the market response has caused financial markets to become more volatile. Gold, which was previously stagnant in the $2150 range, surged yesterday and even formed a new all-time high at $2222.77 before finally rebounding to $2203.
In the crypto market, most cryptocurrencies also experienced increases, Bitcoin jumped more than 9%, Ethereum rose 11%, and Solana rose 12%.
The soaring gold price seems to reflect the market looking for alternative safe haven assets amidst economic uncertainty. While the price of gold itself is influenced by several factors, as reported by the FXOpen blog article, several factors that can influence the value of gold are
Gold D1 Ticktrader
As predicted by the market, it seems that the market response has caused financial markets to become more volatile. Gold, which was previously stagnant in the $2150 range, surged yesterday and even formed a new all-time high at $2222.77 before finally rebounding to $2203.
In the crypto market, most cryptocurrencies also experienced increases, Bitcoin jumped more than 9%, Ethereum rose 11%, and Solana rose 12%.
The soaring gold price seems to reflect the market looking for alternative safe haven assets amidst economic uncertainty. While the price of gold itself is influenced by several factors, as reported by the FXOpen blog article, several factors that can influence the value of gold are
- Inflation Expectations and US Currency: Anticipation of rising inflation and a weakening US dollar, triggered by large fiscal and monetary stimulus, may lift the XAU market.
- Demand Recovery in China and India: A gradual increase in consumer demand in key markets such as China and India, coupled with new investments, could support a rise in gold prices.
- Geopolitical Tensions: As global geopolitical conditions remain tense, the appeal of the yellow metal as a hedging instrument may increase, thereby potentially supporting its price.
- Cost Opportunity: As the opportunity cost of holding gold decreases, the attractiveness of gold among investors will remain, thereby potentially contributing to the growth of the XAUUSD exchange rate.
Gold D1 Ticktrader
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