Fed enters interest rate cutting cycle
Gold is taken into consideration a beneficiary whilst the United States Federal Reserve (Fed) enters a cycle of hobby charge cuts, which might also additionally begin from September 17-18. Lower hobby prices will motive the USD to depreciate in opposition to a basket of different predominant currencies. Gold will then boom in price.
Many forecasts say that gold will reach $2,600/ounce, or even $2,seven hundred with the aid of using the give up of this 12 months or early 2025.
In a latest forecast, Goldman Sachs stated that spot gold fees will reach $2,seven hundred/ounce (VND82.2 million/tael) with the aid of using early 2025. The modern unstable surroundings is stated to be a element to be able to push gold up, despite the fact that this commodity has set new information dozens of instances due to the fact that the start of 2024.
Many forecasts say that gold will reach $2,600/ounce, or even $2,seven hundred with the aid of using the give up of this 12 months or early 2025.
In a latest forecast, Goldman Sachs stated that spot gold fees will reach $2,seven hundred/ounce (VND82.2 million/tael) with the aid of using early 2025. The modern unstable surroundings is stated to be a element to be able to push gold up, despite the fact that this commodity has set new information dozens of instances due to the fact that the start of 2024.
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SELL XAU 2520
TP1: 2512
TP2: 25004
SL: 2527
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Hit TP 2 + 160 pips 
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