One analyst forecasts gold prices to trade between $1,910 and $1,950 for the rest of this quarter.
, Millman forecasted gold prices to trade between $1,910 and $1,950 for the rest of this quarter.
Fed officials warned on Friday of further rate hikes even after voting to hold the benchmark rate steady last week, with three policymakers saying they remain uncertain about whether the inflation battle is over.“My baseline forecast is that gold will reach a new all-time high in 2024, if we see at least a mild recession in the global economy. If we get a recession, Fed will be forced to cut rates sooner,” Millman added.
Market focus now shifts towards the personal consumption expenditures price index, the Fed’s preferred inflation gauge, which is scheduled to be released on September 29. Mirroring investor sentiment, holdings in the SPDR Gold Trust, the world’s largest gold-backed ETF, fell to their lowest level since Jan. 2020.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
National Gold Star Family Day: Honoring Gold Star families and the resources availableIt’s an honor that nobody wants, but many here in San Antonio are familiar with — being a Gold Star Family.
Read more »
One man killed, one injured in overnight Lakewood shootingA man is dead and another is in the hospital after a shooting overnight in the 9000 block of West Virginia Avenue in Lakewood.
Read more »
One Kosovo police officer killed and one wounded, raising tensions with SerbiaKosovo's prime minister on Sunday said one police officer was killed and another wounded in an attack he blamed on support from neighboring Serbia, increasing tensions between the two former war foes.
Read more »
One Piece Confirms Gear 5's One Weakness That Proves Luffy Isn't InvincibleLuffy's Gear 5 has a major weakness.
Read more »
| One-on-one with presidential candidate Asa HutchinsonWHP CBS 21 Harrisburg provides local news, weather, sports, community events and items of interest for Harrisburg Lancaster Lebanon York and nearby towns and communities in the greater Harrisburg area including, Hershey, Hummelstown, Palmyra, Jonestown, Annville, Gettysburg, East Berlin, New Oxford, Littlestown, Biglerville, New Cumberland, Lemoyne, Wormleysburg, Camp Hill, Mechanicsburg, Carlisle, Shippensburg, Newville, Middletown, Halifax, Steelton, Mount Joy, Elizabethtown, Lititz, Millersville, Columbia, Quarryville, Ephrata, New Holland, Dillsburg, Etters, Enola, Lewisberry, Manchester, Red Lion, Glen Rock, Shrewsbury, Dallastown, Hanover, Chambersburg, Mont Alto, Greencastle, Fayetteville, Mercersburg, Waynesboro, Chambersburg, Reading, Newport, New Bloomfield, Marysville, Duncannon, New Buffalo.
Read more »