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Tesla (TSLA.O) is redesigning the electric door locking mechanism.On September 18th, the Federal Reserves first interest rate cut in nine months triggered a rally in U.S. Treasury bonds, fueling market expectations that the Fed would initiate a series of aggressive rate cuts to support the economy. However, Fed Chairman Powell stated that Wednesdays rate cut was a risk management decision, arguing that a rapid adjustment of interest rates was unnecessary and that the Fed would make decisions on a meeting-by-meeting basis. This cautious statement dampened market hopes for a significant rate cut, sending U.S. Treasury bonds lower and yields higher. Gennadiy Goldberg, head of U.S. interest rate strategy at TD Securities, noted that Powells reluctance to express an overly dovish stance influenced interest rate movements, particularly as he framed the rate cut as an "insurance" measure.On September 18th, after the Federal Reserve made its interest rate decision, the "new bond king" Gundlach talked about the price of gold, which broke through $3,700 today. Gundlach pointed out that the price of gold has risen by more than 100% in the past two years and has risen by 45% so far this year. He called this trend "outrageous." Gundlach said: "Now even gold miners are participating, which shows that retail investors are beginning to join the momentum trading in the gold market." Gundlach pointed out that he has always been bullish on gold and predicted that the price of gold would reach $4,000 earlier this year. Today, he went a step further and expected the price of gold to rise by another $340 from the current level, an increase of about 9.2%. He said: "I think that by the end of this year, the price of gold will almost certainly close above $4,000.""New Bond King" Gundlach: As the next Federal Reserve chairman approaches, I think we will almost be in a situation of negative real interest rates."New Bond King" Gundlach: If long-term government bond interest rates are too high, yield curve control may be implemented.

Gold Price Prediction: XAU/USD Weakness Dependent on $1,920 Breakout and Fed Decision - Confluence Detector

Daniel Rogers

Jan 30, 2023 15:27

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Gold price (XAU/USD) maintains a defensive stance near $1,930, posting modest gains ahead of Monday's European session, as traders begin the crucial week including the Federal Reserve's (Fed) monetary policy and the January US employment report. China's return after a one-week holiday might bolster the cautious optimism of XAU/USD traders, as could prospects for a dovish raise from the Fed and disappointing Nonfarm Payrolls data (NFP).

 

Notably, a slower start to a pivotal week with a high economic data load also appears to underpin the Gold prices' corrective rebound from a short-term major support confluence. However, the metal's short-term movements depend on the Fed's ability to push back the dovish inclination despite the confirmation of the impending policy shift.


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