Gold: Fed has no authority. Forecast as of 02.02.2024

Even if the LBMA member survey report had suggested the Fed's monetary policy was the main driver in the gold market price formation, gold did not react to Jerome Powell's statement. Let’s discuss it and make a trading plan.

Fundamental forecast for gold for today

The precious metal has ignored Jerome Powell's words that the first fed funds rate cut will unlikely happen in March as part of a new monetary expansion cycle. Still, gold prefers bare figures to the Fed Chair's address. ADP's moderate private employment growth of 107 thousand, an increase in jobless claims, and weak US manufacturing… Read full author’s opinion and review in blog of #LiteFinance