

Oil prices surge on rate cut hopes but demand worries linger

Gold prices surged to new record highs as a weakening dollar and mounting expectations for a large interest rate cut by the U.S. Federal Reserve drove market demand. We turn our attention to the charts. In the XAUUSD chart, gold has continued its bullish run. The price surged reflecting a trend driven by what our analysts believe include, the softer U.S. dollar and changing expectations for U.S. interest rate cuts. Gold has been supported by the 50-day and 30-day moving averages, with no signs of immediate bearish pressure. A break could extend the rally further, while any disappointing economic data from the U.S. might fuel additional gains in the near term. Read more to find out how will gold trend.

how will gold trend

Disclaimer:

As geopolitical risks remain heightened and global interest rates are expected to stay lower for longer, demand for precious metals, especially gold, could see sustained support in the coming months. Risk management is advised to complement these releases closely for further indications of market trends.

Publication date:

2024-09-27 16:00:00 (GMT)

The terms and conditions of use set out below (referred to as "FX Blue's Terms"), form a contractual agreement governing FX Blue's relationship with you in relation to your use of this Website (“Agreement”) and you agree to be legally bound by FX Blue's Terms just as if you had signed this Agreement. By using this Website and any Information, you are agreeing to comply with and be bound by FX Blue's Terms, including any revisions that may be made to FX Blue's Terms from time to time. FX Blue reserves the right, in FX Blue's sole discretion, to change, modify, add or remove portions of FX Blue's Terms at any time by posting the revisions on the Website. You should check FX Blue's Terms periodically for changes as by using the Website after FX Blue posts any changes to FX Blue's Terms, you are agreeing to accept those changes, whether or not you have reviewed them, and you waive any right you may have to receive individualised notice of such changes. FX Blue's Terms may be supplemented by additional terms and conditions pertaining to specific content and activities. You agree and understand that such additional terms and conditions are hereby incorporated by reference to FX Blue's Terms. Your continued use of the Website means that you accept any new or modified FX Blue Terms.