TSX:GMTN - Post Discussion
Post by
GoldenPolarBear on Apr 03, 2024 6:03pm
“ Gold price rises above $2,300, shattering all-time high💥
"...
Gold price rises above $2,300, shattering all-time high..."
"...Gold rose to another record after Federal Reserve Chair Jerome Powell signaled policymakers will wait for clearer signs of lower inflation before cutting interest rates. 
Powell said recent inflation figures — though higher than expected — didn’t “materially change” the overall picture, according to the text of a speech at Stanford University in California. He reiterated his expectation that it will likely be appropriate to begin lowering rates “at some point this year.”
US gold futures, meanwhile, crossed the $2,300 mark, up 1.4% at $2,313.60 per ounce. https://www.mining.com/web/gold-shatters-new-records-as-mideast-tensions-add-to-bullish-mix/
"... "Gold surged to yet another historic high on elevated trading volume after Powell stresses that 'bumps' in the road don't change the overall rosy picture," said Tai Wong, a New York-based independent metals trader.
"Powell's customary cautious approach doesn't worry gold bulls...I think bulls want to see $2,300 and I think more 'tourists' are getting involved in the trade."
https://www.reuters.com/markets/commodities/gold-smashes-record-again-us-inflation-worries-loom-2024-04-03/
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