Strong USD pressures Gold Prices, Market Remains Volatile
December 23, 2024 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a go-to platform for big investing ideas releases market commentary from Tito Iakopa - Commercial Director at FlowCommunity.
Gold prices were under some pressure, after a rebound toward the end of last week, as it faced a stronger dollar today. The US currency could continue to see a strong momentum after multi-month gains and a more pronounced hawkish stance from the Federal Reserve.
However, gold could benefit from the softer-than-expected PCE inflation report that has moderated to a certain extent the fears regarding the Federal Reserve's stance. While the Fed projected only two rate cuts for next year, a reduction from September's forecast of four cuts, the broader outlook for gold could remain bullish. The market could continue to see support from central bank purchases and from geopolitical risks.
Looking ahead, market attention is on the anticipated effects of Donald Trump's presidency. The potential market impact of his early presidential actions could introduce additional volatility, further contributing to gold's appeal as a safe-haven asset and potentially driving prices higher.
Disclaimer/Disclosure: disclaimer and disclosure info https://www.investorideas.com/About/Disclaimer.asp
Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Learn more about our news, PR and social media, podcast sponsorship and ticker tag services at Investorideas.com
https://www.investorideas.com/Investors/Services.asp
Learn more about digital advertising and guest posts
https://www.investorideas.com/Advertise/
Follow us on X @investorideas @stocknewsbites
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Sign up for free stock news alerts at Investorideas.com
https://www.investorideas.com/Resources/Newsletter.asp
Contact Investorideas.com
800 665 0411
