Gold prices have surged to two-week highs as soft US economic data maintains expectations of a Federal Reserve rate cut. The precious metal has seen gains amid growing optimism for an interest-rate reduction following weak US retail sales and declining Treasury yields.
Bank of America: We had previously proposed a US$2,400/oz price estimate if the Fed cut rates in 1Q24; we now raise that and see gold rallying to US$3,000/oz by 2025,โ
#Gold Prices Set To Climb To $3,000 On Fed Rate Cuts, Geopolitical Tensions, Bank of America Says โข Bank of America's Widmer suggests Federal Reserve rate cuts and central bank purchases could significantly boost gold's appeal.
Gold could rally to $3,000 over the next 12-18 months, according to Bank of America https://t.co/iyn2dJkkiA
Gold has had a solid year so far, hitting an all-time high in May. Bank of America analysts think it could go much further, hitting $3,000 an ounce in the next 12 to 18 months. So what's the rationale? https://t.co/wM0M8d2GuY
#Gold ticks up with US inflation data in focus https://t.co/ESGKYVpwBr via @Reuters
Gold eyes second weekly gain on US rate cut optimism - Reuters https://t.co/BLlfc2uBV3
GOLD FUTURES RISE ON RENEWED U.S. INTEREST-RATE CUT HOPES Gold futures rise 0.5% to $2,381 a troy ounce as U.S. Treasury yields slide. The precious metal has gained amid growing hopes for a Federal Reserve interest-rate cut following weak U.S. retail sales on Tuesday andโฆ
#Gold eyes second weekly gain on US rate cut optimism https://t.co/N5IPpxiGSX via @Reuters https://t.co/4qDHydyv2J
#Gold set for weekly gain on US rate-cut optimism, geopolitical woes https://t.co/N5IPpxiGSX via @Reuters https://t.co/BlIS8Xy0Kz
Spot #gold surged on Thursday to two week-high level of $2,366 on the #Fed #ratecut bets. The rate cut speculation gained currency as the Swiss National Bank cut #interestrates for the second time. https://t.co/6dpmmhYEEk
#Gold rises 1% to two-week peak as Fed rate-cut bets lift demand https://t.co/sDIyTpruCj via @Reuters https://t.co/oxqOhE6Fwq
Gold rises 1% to two-week peak as Fed rate-cut bets lift demand https://t.co/IrWrsFJpX4
Gold and silver futures settle at two-week highs https://t.co/OojPb1iZyR
Gold prices touched two week highs today $GLD https://t.co/1klL3pl8pg
#Gold rises 1% to two-week peak as Fed rate cut bets lift demand https://t.co/sDIyTpruCj via @Reuters https://t.co/I2Jimz4vDw
Gold touches two-week high as soft US economic data keeps rate cut bets alive - Reuters https://t.co/631CqW27kf
#Gold touches two-week high as soft US economic data keeps rate cut bets intact https://t.co/sDIyTpruCj via @Reuters https://t.co/JirpgP4LlO
Gold hits one-week high on Fed rate cut bets https://t.co/g9QzVZW1O7 https://t.co/MjUjE9UqaI