Posted 3/8/2024, 9:03:50 AM
Fed and ECB Hints at Rate Cuts Weaken Dollar, Boost Gold and Bitcoin to New Highs
- Fed and ECB signaled rate cuts could be coming soon, which has weakened the US Dollar and boosted Gold and Bitcoin prices
- Gold rallies to fresh highs above $2,160/oz as US Dollar declines to a near 2-month low
- Traders are net-short Gold, suggesting prices may rise further
- Today's US NFP report could drive additional US Dollar declines if below forecasts
- Bitcoin eyes fresh all-time highs due to supply/demand mismatch and upcoming halving event
