Is it XAUUSD gonna break the last all time high? its seem like gold still on uptrend if we look on daily time frame.
what is your opinion?
Major event took place overnight in the precious metals markets, if it persists we could see some dramatic moves soon:
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How does the price of Gold normally react heading in to a Fed(USD) easing cycle.
Over the long term, gold reacts more to the expansion & contraction of money supply than overnight rates set by any central bank.
A Fed dovish policy (easing cycle) often correlates to an expansion of the USD money supply, which would be bullish for gold.
Having said this, I believe the biggest bullish driver for gold will not be Fed easing but from US Treasuries and international govt bonds—gold’s main competitors for capital—no longer being attractive as they were in the past.
