Spot gold short-term trend analysis: Before breaking through 2675, the opportunity tends to be bullish, focusing on five factors.
On Friday (November 18th) in the early Asian market, spot gold hovered slightly below the $2700 level, currently trading near $2697.88 per ounce. On one hand, gold prices are supported by the Fed's rate cuts and expectations of global loose mmf, as well as by safe-haven bid and dip bid support. On the other hand, the prospect of a stronger dollar under Trump's administration still gives the bulls some concern. This trading day requires attention to the stimulus policies of major Asian countries, the University of Michigan's consumer confidence index, speeches by Fed officials, relevant geopolitical news, and the market's further interpretation of the Fed's decision. In terms of fundamentals, the Fed's rate cut.
Fed rate cut sparks market boom! Powell sends out a significant signal. Gold price skyrockets over $47. How to trade gold?
On Thursday, spot gold surged nearly 2%, as the Fed cut interest rates by 25 basis points as widely expected, causing the dollar to plummet and providing upward momentum for gold. FXStreet analyst Christian Borjon Valencia pointed out that the Fed's dovish rate cut and hints of flexibility in future policy direction benefited gold.
Spot gold surged by $50! Wall Street comprehensively interprets the Fed's rate cut in November.
Powell made it clear that even if requested by Trump to resign, he would not. This decision is considered to have almost no clear signal on future rate cuts, with Powell being accused of "delaying" until the fiscal outlook is clearer.
Gold Is the New Bitcoin – TDS
Fed Interest-Rate Cut Still Likely After Trump's Win but December Is Open
Dollar Pulls Back Ahead of Expected Fed Rate Cut