International Gold (XAU/USD): Bulls Eyeing $1,850 as Fed Triggers Gold Rush
Market Overview
International gold surged on Thursday, reaching fresh seven-month highs above $1,840 per ounce. The precious metal has been riding a wave of bullish sentiment since the U.S. Federal Reserve’s decision to maintain dovish monetary policy.
Fed Keeps Rates Low
The Federal Reserve’s decision to keep interest rates near zero and continue its bond-buying program has weakened the U.S. dollar and boosted demand for safe-haven assets like gold. Interest rate cuts typically make the dollar less attractive to investors, leading them to seek other investments such as gold.
Inflation Expectations Rise
Rising inflation expectations have also played a role in gold’s rally. The Fed’s dovish stance has fueled concerns that inflation could pick up in the coming months, which would erode the value of currencies and make gold more appealing as a store of value.
Technical Analysis
Technically, gold is poised for further gains. The metal has broken above key resistance levels at $1,830 and $1,840, indicating a shift in momentum. The next key target for bulls is $1,850, which coincides with the 200-day moving average.
Bullish Sentiment
Market sentiment towards gold remains decidedly bullish. Speculators are adding to their long positions, betting on the metal’s continued appreciation. The latest Commitment of Traders report shows that net long positions in gold futures reached their highest level since January.
Outlook
Analysts expect gold to continue its upward trajectory in the near term. The Fed’s dovish stance, rising inflation expectations, and positive technical outlook are all supportive factors. The $1,850 level is a key resistance point, but if broken, it could pave the way for a move towards $1,900.
Conclusion
International gold is riding a wave of bullish sentiment as the Federal Reserve maintains its ultra-accommodative monetary policy. With inflation expectations rising and technical indicators flashing green, gold is poised for further gains. Bulls are eyeing $1,850 and beyond, while bears remain on the defensive.
原创文章，作者：杰克，如若转载，请注明出处：https://hengxing99.com/9771.html
