There is currently not expected to be a rate cut in January. The recently released FOMC minutes indicate that the first-rate cut might occur towards the end of 2024. The Treasury Secretary has declared that the US economy has successfully achieved a soft landing. As I previously mentioned, the likelihood of a soft landing is increasing, Now gold is trading in a range between $2085 and $2030, awaiting a clear breakout.
This week's important data is the release of the Consumer Price Index (CPI) on Thursday. Whether the CPI numbers come in higher or lower, in both scenarios, gold is expected to be bearish due to the perceived achievement of a soft landing in the US economy.
This week's important data is the release of the Consumer Price Index (CPI) on Thursday. Whether the CPI numbers come in higher or lower, in both scenarios, gold is expected to be bearish due to the perceived achievement of a soft landing in the US economy.