Gold price skyrockets to a new all-time high of $2,465 on Tuesday amid growing bets that the US Federal Reserve (Fed) will begin its easing cycle in September.
Gold price hits an all-time high of $2,465 on growing expectations of a Fed rate cut in September. Trump’s potential election win fuels market volatility, driving investors to non-yielding assets. Lower-than-expected inflation data and Powell’s dovish comments underpins Gold . Gold price skyrockets to a new all-time high of $2,465 on Tuesday amid growing bets that the US Federal Reserve will begin its easing cycle in September.
Gold technical analysis: XAU/USD surged and extended rally as traders eye $2,500 Gold prices remain bullish and trading at all-time highs, clearing the May 20 high of $2450, which opened the door for further gains. Momentum is still in the bulls' favor, as depicted by the Relative Strength Index , which aims higher and is shy of reaching “regular” overbought conditions. XAU/USD's next resistance would be $2,475, followed by the $2,500 figure.
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