Posted 4/9/2024, 10:18:27 AM
Gold Soars to New Highs on Inflation Worries and Geopolitical Tensions
- Gold hits new record high ahead of upcoming US inflation data release
- Economists expect signs of easing inflation in the data, which could give Fed room to cut rates
- Gold has climbed over 18% since mid-February despite fading trader conviction on rate cuts
- Geopolitical risks and central bank buying, especially from China, are bullish for gold
- Gold seeing strong momentum and FOMO buying, but needs consolidation after big run-up
