Rate Cut Projections
At the end of October Powell's dovish talk fueled expectations of rate cuts starting in March that caused a sharp rise in the price of gold.
Dovish talk was walked back but the price of gold has remained elevated.
Increased risk of regional bank failures support a prognosis that the Federal Reserve will have start cuts sooner than later and the rise in the price of gold confirms that.
History has shown that once cuts start they are swift and steep. Here is the data from Visual Capitalist:
https://www.zerohedge.com/markets/visualizing-past-interest-rate-cut-cycles-2024-forecasts