Fed Cuts Interest Rates, Gold Expected to Surge
After the U.S. Federal Reserve decided to cut rates by half a percentage point on September 19th, gold prices reversed and surged significantly.
According to the 4-hour chart, gold is currently fluctuating around $2,590. The outlook leans towards a continued strong increase, aiming for levels above $2,600.
Overall, after the Fed's move combined with news of the U.S. experiencing trade and budget deficits, we can expect more rate cuts in the future. The U.S. dollar will likely decline, creating favorable conditions for gold to rise further. Therefore, I believe we can sell gold today.
What about you? What are your thoughts on gold prices today?
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