Has the Fed just given the green light for gold to gain into the start of 2024? With a dovish dot plot forecasting 3 Fed rate cuts next year, bonds were heavily bought last night and the USD was convincingly sold.
Has the Fed just given the green light for gold to gain into the start of 2024? With a dovish dot plot forecasting 3 Fed rate cuts next year, bonds were heavily bought last night and the USD was convincingly sold.
Markets are seeing easier conditions ahead. Remember, when yields fall, and the USD falls this tends to send gold firmly higher! So, will these super strong seasonals play out for gold longs again this year?
The major trade risk here is that previous seasonal patterns do not necessarily repeat themselves each year.
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