XAUUSD – 19 Sep 2024
XAUUSD – 19 Sep 2024 On the daily timeframe, XAUUSD is seen continuing to move above the kumo cloud after successfully breaking through resistance line 1 in August. Although the pair failed to break resistance line 2, its position still above the kumo indicates that the bullish momentum remains quite strong. However, it is worth […]
Fed Cuts Rates by 50 bps: Global Markets React
Fed Cuts Rates by 50 bps: Global Markets React The US Federal Reserve made a bold move by cutting interest rates by 50 basis points, exceeding Wall Street’s expectations. This marks the first rate reduction in four years, bringing the benchmark rate down to 5% from its 23-year high of 5.5%. The decision surpassed predictions […]
Gold Dips After Record Highs Amid Fed Rate Cut: Focus on Asian Market and Geopolitical Risks
On September 19, 2024, the Asian markets opened with a cautious tone as gold prices saw a pullback after briefly touching record highs of $2,600 per ounce following a significant rate cut by the U.S. Federal Reserve. The metal’s price, which had surged on the Fed’s aggressive monetary policy, retraced to around $2,553, as traders […]