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<p>[QUOTE="GoldFinger1969, post: 24832422, member: 73489"]<b><font size="5"><span style="color: #0000ff">From Bloomberg:</span></font></b></p><p><br /></p><p><b><font size="4">Spot Gold Rises to Record on Dovish Fed Remarks</font></b></p><ul> <li>Bullion shoots past previous all-time high set in August 2020</li> <li>A rally underway since early October picked up pace on Friday</li> </ul><p><i>The precious metal surged more than 3% in early trading on Monday, surpassing the previous all-time high it set on Aug. 7, 2020, before paring most of those gains.</i></p><p><i><br /></i></p><p><i>A rally in bullion that’s been underway since early October was turbocharged on Friday when comments by Fed Chair Jerome Powell that monetary policy is “well into restrictive territory” spurred a plunge in the dollar and Treasury yields, a positive for non-interesting bearing gold.</i></p><p><i><br /></i></p><p><i>Powell then <a href="https://www.bloomberg.com/news/articles/2023-12-01/powell-pushes-back-on-rate-cut-bets-but-markets-push-back-harder" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.bloomberg.com/news/articles/2023-12-01/powell-pushes-back-on-rate-cut-bets-but-markets-push-back-harder" rel="nofollow">attempted to push back</a> against the rate-cut optimism, warning that “it would be premature to conclude with confidence that we have achieved a sufficiently restrictive stance, or to speculate on when policy might ease.” Despite that, swaps markets now see a more than 50% chance of a reduction in March and are fully pricing in a cut in May.</i></p><p><i><br /></i></p><p><i>There’s been “a big momentum shift” on gold, said Chris Weston, head of research at Pepperstone Group Ltd. However, US labor data later this week could pose an element of downside risk to bullion, with bets on lower real rates into next year looking very aggressive, he said.</i></p><p><br /></p><p><a href="https://www.bloomberg.com/news/articles/2023-12-03/asian-stocks-to-rise-after-us-shrugs-off-powell-markets-wrap" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.bloomberg.com/news/articles/2023-12-03/asian-stocks-to-rise-after-us-shrugs-off-powell-markets-wrap" rel="nofollow">https://www.bloomberg.com/news/articles/2023-12-03/asian-stocks-to-rise-after-us-shrugs-off-powell-markets-wrap</a>[/QUOTE]</p><p><br /></p>
[QUOTE="GoldFinger1969, post: 24832422, member: 73489"][B][SIZE=5][COLOR=#0000ff]From Bloomberg:[/COLOR][/SIZE][/B] [B][SIZE=4]Spot Gold Rises to Record on Dovish Fed Remarks[/SIZE][/B] [LIST] [*]Bullion shoots past previous all-time high set in August 2020 [*]A rally underway since early October picked up pace on Friday [/LIST] [I]The precious metal surged more than 3% in early trading on Monday, surpassing the previous all-time high it set on Aug. 7, 2020, before paring most of those gains. A rally in bullion that’s been underway since early October was turbocharged on Friday when comments by Fed Chair Jerome Powell that monetary policy is “well into restrictive territory” spurred a plunge in the dollar and Treasury yields, a positive for non-interesting bearing gold. Powell then [URL='https://www.bloomberg.com/news/articles/2023-12-01/powell-pushes-back-on-rate-cut-bets-but-markets-push-back-harder']attempted to push back[/URL] against the rate-cut optimism, warning that “it would be premature to conclude with confidence that we have achieved a sufficiently restrictive stance, or to speculate on when policy might ease.” Despite that, swaps markets now see a more than 50% chance of a reduction in March and are fully pricing in a cut in May. There’s been “a big momentum shift” on gold, said Chris Weston, head of research at Pepperstone Group Ltd. However, US labor data later this week could pose an element of downside risk to bullion, with bets on lower real rates into next year looking very aggressive, he said.[/I] [URL]https://www.bloomberg.com/news/articles/2023-12-03/asian-stocks-to-rise-after-us-shrugs-off-powell-markets-wrap[/URL][/QUOTE]
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