If anything, that speaks to the unrelenting momentum in the precious metal since the rally kick started last year. And even now at fresh record highs, it's tough to argue against a further advance in gold.
The Fed has finally gotten around to easing policy and with flagging US economic conditions, may have to stick on that path going into next year. Usually once the Fed starts cutting rates, they don't stop midway. So, there's that to keep in mind.
Then, there's Trump amplifying all of that with a trade war and administrative policy incoherence over the past six months or so. That promotes a step away from the dollar (although TIC data seems to counter that argument), with central banks globally also steadily increasing their gold holdings - especially China.
These bullish factors have been in place for a long while now and are still very much intact when you look at gold now. After the 27% gains last year, gold is now up around 43% this year already. That's quite something.
But looking to the months ahead, it might present an interesting conundrum for gold traders. The December to January months is typically the strongest seasonal period for gold. Will we see some profit-taking and cooling off before that? Or will we get a repeat of 2024 where gold instead actually cooled during those months before running up after?
This article was written by Justin Low at investinglive.com.Hence then, the article about gold looks poised to close out september in style was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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