Gold on track for weekly gain as investors await US rate cut

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Gold bulls were in full control this week as prices jumped past $1450 for the first time since 2013.

 

Market expectations over the Federal Reserve cutting interest rates for the first time in over 10 years, Dollar weakness and tensions boosted appetite for Gold this week. With central banks across the globe already cutting interest rates to boost their respective economies, Gold is set to glitter in this low-interest-rate environment.

 

Focusing on the technical picture, a solid weekly close above $1430 should inspire a move back towards $1450 and $1470, respectively… Read More:

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