2024-11-07 02:15
IndustryGold Technical Analysis – Is this the beginning
Gold is trading lower today as Trump got elected President of the US. The Republicans won the Senate, and they just need the House now to get a red sweep.
That is the most bearish scenario for gold in the short-term as it would make the tax cuts easier to pass which should lead to higher growth and less rate cuts expectations. As of now, the probabilities are in favour of the Republicans.
Given the above and the strong US data we keep on getting, the Fed might start to change its stance, and we could see a much earlier than expected pause in 2025.
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Gold Technical Analysis – Is this the beginning
| 2024-11-07 02:15Gold is trading lower today as Trump got elected President of the US. The Republicans won the Senate, and they just need the House now to get a red sweep.
That is the most bearish scenario for gold in the short-term as it would make the tax cuts easier to pass which should lead to higher growth and less rate cuts expectations. As of now, the probabilities are in favour of the Republicans.
Given the above and the strong US data we keep on getting, the Fed might start to change its stance, and we could see a much earlier than expected pause in 2025.
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