Market Overview Analysis by Stewart Thomson covering: XAU/USD, Dow Jones Industrial Average, Gold Futures, Copper Futures. Read Stewart Thomson's latest article on Investing.com
The next Fed meeting and interest rate decision is scheduled for September 18. Analysts in both the gold and mainstream investing communities feel that rate cuts should have already happened, and the central bank is “behind the curve”.
A more detailed look at their take on the situation. Is it possible that Fed chief Jay is joyfully announcing rate cuts… just in time for the next wave of inflation to start?) appears to be basing. Note how similar the action is to oil, which is the largest component in most commodity indexes. A move above $15 for the PDBC would likely coincide with oil moving back above $100.
I’ve mentioned September 18 as a possible major inflection point. Investors should be open to a US stock market peak and general commodities trough occurring at or around that date.? While gold is vulnerable to a small “all the good rate news is in” swoon around September 18, it is the world’s greatest asset and currency.
GDX could make it to $43 or even $50 before the inevitable pullback begins, and gold could be at $2600+. Investors can focus on $36 and $34-$32 for GDX as support zones that may correlate with $2450 gold.
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