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GOLD: Gold Bounces in Asia Trading. 

GOLD
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  • Rate cuts are good for Gold and last night’s cut, whilst watering down expectations for cuts in 2025, saw gold move aggressively lower.
  • Having opened Wednesday at US$2,646.83, like a lot of markets gold traded sideways ahead of the Fed, but the move post the announcement saw gold fall to $2,585.35, a -1.85% decline back to levels it was in mid-November.
  • It has rebounded somewhat in trading today and is back up to $2,607.60 in the afternoon session.
  • The Feds quarterly forecasts showed that several voting members are now penciling in less cuts that what the market has priced resulting in bonds selling off, the USD up and gold down.
  • The sell off does little to dent the overall performance of gold year to date, enjoying more than 20% appreciation. 
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  • Rate cuts are good for Gold and last night’s cut, whilst watering down expectations for cuts in 2025, saw gold move aggressively lower.
  • Having opened Wednesday at US$2,646.83, like a lot of markets gold traded sideways ahead of the Fed, but the move post the announcement saw gold fall to $2,585.35, a -1.85% decline back to levels it was in mid-November.
  • It has rebounded somewhat in trading today and is back up to $2,607.60 in the afternoon session.
  • The Feds quarterly forecasts showed that several voting members are now penciling in less cuts that what the market has priced resulting in bonds selling off, the USD up and gold down.
  • The sell off does little to dent the overall performance of gold year to date, enjoying more than 20% appreciation.