Posted 4/1/2024, 2:58:36 AM
Gold Price Soars to Record High Over $2,250 on Rate Cut Hopes, But Correction Risks Loom
- Gold price hits new all-time high over $2,250, kicks off 2nd quarter positively amid thin liquidity and weak US dollar
- Increased bets on June Fed policy pivot and rate cut underpin gold price
- Technical analysis shows gold price in extremely overbought territory, signaling risk of correction
- Immediate support found at $2,236; below that $2,200 and $2,187 could be tested
- US jobs data on Friday critical for sealing June Fed rate cut expectations, significantly impacting gold price direction