{"id":16023,"date":"2024-12-11T03:33:13","date_gmt":"2024-12-11T03:33:13","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=16023"},"modified":"2024-12-11T03:33:13","modified_gmt":"2024-12-11T03:33:13","slug":"gold-hikes-with-growing-rate-cut-bets","status":"publish","type":"post","link":"https:\/\/www.global-vtrader.com\/en\/analysis\/gold-hikes-with-growing-rate-cut-bets\/","title":{"rendered":"Gold Hikes with Growing Rate Cut Bets"},"content":{"rendered":"\n<p><em>Listen to the article here:<\/em><\/p>\n\n\n\n<figure class=\"wp-block-audio\"><audio controls src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2024\/12\/16023.mp3\"><\/audio><\/figure>\n\n\n\n<p><strong>Key Points<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Gold closed at 2700.20, rising steadily from 2660.86 with a high of 2704.42.<\/li>\n\n\n\n<li>MACD and moving averages signal strong bullish momentum.<\/li>\n\n\n\n<li>Traders see an 86% chance of a 25-basis-point Federal Reserve rate cut on 18 December.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p>Spot gold prices rose by 0.1% to $2,696.82 per ounce as of 0023 GMT, while U.S. gold futures increased 0.3% to $2,726.00. The move came ahead of U.S. Consumer Price Index (CPI) data, shaping market expectations for Federal Reserve actions in 2024.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">What this week&#39;s CPI print will mean for monetary policy moving forward, with Dakota Wealth Management&#39;s Robert Pavlik: <a href=\"https:\/\/t.co\/QJwIshmY1H\">pic.twitter.com\/QJwIshmY1H<\/a><\/p>&mdash; Yahoo Finance (@YahooFinance) <a href=\"https:\/\/twitter.com\/YahooFinance\/status\/1866517984484729306?ref_src=twsrc%5Etfw\">December 10, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Traders are urged to keep an eye on the upcoming Producer Price Index (PPI) data set for release on Thursday.<\/p>\n\n\n\n<p>Current forecasts suggest that the Fed will cut interest rates by 25 basis points on 18 December, with 86% of traders backing this scenario according to the <a href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html\">CME FedWatch tool<\/a>.<\/p>\n\n\n\n<p>Rising tensions in the Middle East add further support for gold. The Israeli military <a href=\"https:\/\/t.co\/Q52EmfcEQY\">reported strikes<\/a> on key strategic targets in Syria, escalating concerns over regional stability.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Technical Analysis<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2024\/12\/image-7-1024x446.jpeg\" alt=\"\" class=\"wp-image-16024\" style=\"width:1450px;height:auto\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><em>Picture: Gold climbs steadily, with moving averages and MACD pointing to ongoing upward momentum, as seen on the <a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\" title=\"\">VT Markets app<\/a>.<\/em><\/p>\n\n\n\n<p>The charts indicate the steady movement of gold over the last trading session, closing around 2700.20 and moving upward, displaying a steady climb from its opening near 2660.86.<\/p>\n\n\n\n<p>The price rose towards a high of 2704.42 and found only mild pullbacks along the way, reflecting an ongoing bullish bias on the short-term chart.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Global Economic Stances<\/h2>\n\n\n\n<p>Gold is traditionally viewed as a safe haven during periods of economic and geopolitical uncertainty and typically performs well in a low-interest-rate environment.<\/p>\n\n\n\n<p>Central bank demand, ongoing monetary policy easing, and global political turmoil have propelled gold prices upward by 31%, positioning it for its best annual performance since 2010.<\/p>\n\n\n\n<p>Goldman Sachs reiterated its <a href=\"https:\/\/t.co\/CKcR0w4fTf\">bullish outlook<\/a> for gold on Tuesday, defending the possibility of prices reaching $3,000 per ounce by the end of 2025, even in a scenario where the U.S. dollar remains relatively strong.<\/p>\n\n\n\n<p>Silver prices also experienced a modest rise, climbing 0.1% to $31.93 per ounce. Platinum held steady at $943.15, while palladium rose 0.4% to $971.44.<\/p>\n\n\n\n<p>Given the strong momentum in gold and expectations for further monetary easing, we anticipate further gains in the near term.<\/p>\n\n\n\n<p>However, key inflation reports could prompt price volatility, and traders will be looking closely for alignment between inflationary trends and Federal Reserve policy forecasts. <\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">Create your live VT Markets account<\/a>\u00a0and\u00a0<a href=\"https:\/\/myaccount.vtmarkets.com\/login\">start trading<\/a>\u00a0now.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices climbed as traders weighed global conflict developments and heightened expectations of another Federal Reserve rate cut next week. &#8211; vtmarkets.com<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[27],"tags":[7],"class_list":["post-16023","post","type-post","status-publish","format-standard","hentry","category-analysis","tag-gold"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/16023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/comments?post=16023"}],"version-history":[{"count":0,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/16023\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/media?parent=16023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/categories?post=16023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/tags?post=16023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}