Gold is back in the hunt for $2400 ...Middle East

Today's US CPI report cracked open the door to Fed rate cuts once again today and has led to a broad round of US dollar selling. So it's no surprise to see gold catch a bid in the aftermath, but how high can it go?It's up $31 today to a session high oat $2389.In two different days in April, it had a peek above $2400 and even touched a high of $2431 before a nasty intraday reversal on April 12. In some markets, that would have signaled the end but gold has found a footing with the help of the Fed, Asian buyers and softer inflation.The first level I'm watching is $2390, which was the record high close in April. If we can get a close above there, followed by one above $2400, then I'd be comfort

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Last updated : 15 May 2024 clock 08:52 PM

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Gold is back in the hunt for $2400 ...Middle East

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