The Fed is expected to cut interest rates, which could benefit gold. Gold usually outperforms other commodities during rate cuts and traders are pricing in a higher chance of a 50-basis-point cut. However, some traders are concerned about a potential pullback after last week's explosive rally. Blue Line Futures remains bullish on gold in the long-term, targeting a price of $2,750 by the end of 2024.
image sourced from original article at https://www.jpost.com/business-and-innovation/precious-metals/article-820372Original article source: https://www.jpost.com/business-and-innovation/precious-metals/article-820372
Source Id: 8323598116
