Gold price may test the level of $1500
While financial markets are playing poker with the Fed, and investors are sure that Jerome Powell is bluffing when saying that there will hardly be any aggressive interest-rate cuts, the XAUUSD bulls have all the chances to continue gold rally. The precious metal is quite responsive both to the easing of the Fed’s monetary policy and to the worst four-day drop in 10-year Treasury yield since 2011. 10-year Treasury yield crashed to its lowest level since 2016 amid the US-China trade battle escalation. Good news for gold that doesn’t generate interest income….
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