XAU continues to increase in the coming time
Gold Just Overtakes EUR to Become World's Second-Largest Reserve Asset
Fed Prepares to Cut Rates. Meanwhile, gold has risen to become the world's second-largest reserve asset, surpassing EUR, thanks to strong demand from central banks.
Investors Surprised by Dovish Speech at Jackson Hole. Stocks reacted positively to Powell's speech, hitting near record highs. However, traders were still surprised by Powell's speech, which went beyond what they expected. The Fed is likely to cut rates by 25 bps in September, and could even cut by 50 bps, depending on how the August jobs report goes.
More importantly, the transition from fiscal stimulus to monetary stimulus has sent bond yields plunging, down 80 bps since Hartnett started recommending bond buying in May.
Fed Prepares to Cut Rates. Meanwhile, gold has risen to become the world's second-largest reserve asset, surpassing EUR, thanks to strong demand from central banks.
Investors Surprised by Dovish Speech at Jackson Hole. Stocks reacted positively to Powell's speech, hitting near record highs. However, traders were still surprised by Powell's speech, which went beyond what they expected. The Fed is likely to cut rates by 25 bps in September, and could even cut by 50 bps, depending on how the August jobs report goes.
More importantly, the transition from fiscal stimulus to monetary stimulus has sent bond yields plunging, down 80 bps since Hartnett started recommending bond buying in May.
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BUY XAU 2520 - 2518
TP2: 2525
TP2: 2530
SL: 2512
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