Gold jumps as Powell signals rate cuts – ING
Source Fxstreet
Gold jumped last Friday after USD and bond yields fell moved my Federal Reserve Chair Jerome Powell's words about an interest rate cut in September, ING’s commodity analysts Warren Patterson and Ewa Manthey note.
Gold might be poised for another fresh record high
"Gold jumped last Friday as the dollar and bond yields fell after Federal Reserve Chair Jerome Powell suggested an interest rate cut in September, pointing to increasing labour market risks despite persistent inflation concerns."
"Traders added to bets the Fed will cut rates next month. With US rate cut bets intensifying after Powell’s speech, Gold could be poised for another fresh record high."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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