The price of gold worldwide has soared again after the Fed cut interest rates for the third time this year.
Gold immediately surged to over US$4,300 per troy ounce!
The combination of low interest rates and persistent inflation has made gold shine even brighter.
Not only that, the political push from Donald Trump and plans related to gold ETFs have also strengthened positive market sentiment.
However, it should be noted that technically, gold is starting to enter overbought territory. This means that a potential correction could happen at any time even though the long-term trend remains bullish.
With the upcoming US NFP data, will gold continue to soar or will it correct?
What do you think? Write your opinion in the comments!
‼️ Disclaimer: This content is for educational purposes only, not an invitation to buy or sell assets.
