Gold futures prices pump 0.9% to $2,637.20 per ounce, hitting a new record of $2,640.70 per ounce earlier in the session as investors benefited from the Fed's rate cut, according to Jin10 Data on September 20. Analysts at Deutsche Bank said in a report that although the Fed emphasized that a large rate cut of 50 basis points was an exception rather than the norm, the market does not seem convinced, increasing investor interest in zero-yielding gold. Deutsche Bank said traders expect another 75 basis points rate cut by the end of the year, and as long as these expectations continue, the pump in gold should continue. However, Deutsche Bank expects the Central Bank of Turkey to only cut 25 basis points in the remaining two meetings, and analysts added that the upward trend in gold prices cannot last forever.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Alman bankası: Eğer büyük ölçüde faiz indirimi beklentisi devam ederse, altının pompalanması devam etmelidir.
Gold futures prices pump 0.9% to $2,637.20 per ounce, hitting a new record of $2,640.70 per ounce earlier in the session as investors benefited from the Fed's rate cut, according to Jin10 Data on September 20. Analysts at Deutsche Bank said in a report that although the Fed emphasized that a large rate cut of 50 basis points was an exception rather than the norm, the market does not seem convinced, increasing investor interest in zero-yielding gold. Deutsche Bank said traders expect another 75 basis points rate cut by the end of the year, and as long as these expectations continue, the pump in gold should continue. However, Deutsche Bank expects the Central Bank of Turkey to only cut 25 basis points in the remaining two meetings, and analysts added that the upward trend in gold prices cannot last forever.