Gold reaches historic high $2700!
Gold prices (XAUUSD) have reached a new all-time high, surpassing $2700 per ounce for the first time in history! The yellow metal, which has been rising for nine consecutive months, received fresh momentum in September from the Feds rate cut. Silver (XAGUSD) hasnt been left behind either, and is currently trading at highs not seen since 2012. Prices are now around $32.30 per ounce, with silvers growth this year increasing to 35%!
On November 21, 2023, we first alerted traders to the immense potential of precious metals. Less than a year has passed, and the returns since our forecast have reached 36%! After reaching yet another historical high, gold shows no signs of slowing down.
The main reason for the drop is growing investor dissatisfaction with the lack of new economic stimulus measures from the Chinese government. Expectations were high, especially after the National Development and Reform Commissions press conference, where economic support was promised but no concrete actions were provided. This has heightened uncertainty in the market.
Factors driving precious metal price growth and expert opinions:
- Major purchases by central banks: Gold prices are rising due to significant metal purchases by central banks, increasing its value.
- Geopolitical instability: Escalating geopolitical instability, particularly in the Middle East, is driving demand for metals as safe-haven assets. Ongoing conflicts in various regions also contribute to rising gold and silver prices.
- Expectations of a Fed rate cut: Investors are anticipating a possible interest rate cut by the U.S. Federal Reserve, making metals more attractive as investment tools. According to CME data, the probability of a rate cut at the upcoming Fed meeting on November 7 stands at 92.3%, increasing the appeal of precious metals as investments.
- Growth forecasts: Analysts predict that gold prices could reach $2850 per ounce by the end of the year and $3100 in the long term.
- Projections by major financial institutions: ING and other financial organizations expect gold prices to peak in the fourth quarter of this year, with potential prices reaching up to $2900 per ounce by mid-2025.
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21-10-2024, 08:15 PM #831
Gold reaches historic high $2700!
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22-10-2024, 07:06 PM #832MetaShireTrading Challenge has begun!
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07-11-2024, 08:22 PM #833
Bitcoin hits new all-time high amid U.S. elections!
Bitcoin hits new all-time high amid U.S. elections!
Bitcoin hits new all-time high amid U.S. elections!Yesterday, November 6, 2024, the U.S. presidential election results were announced, and the race was won by Donald Trump, a strong advocate for cryptocurrency! During his campaign, on September 18, 2024, the current U.S. leader made a bold move toward the digital asset community by treating supporters to burgers at PubKey in New York, paid for in Bitcoin. During the voting and after the results were announced, Bitcoin (BTCUSD) demonstrated a rapid surge.
Starting around $68,000, Bitcoin broke past $76,000, hitting a historical peak and posting an impressive 12% gain within just 24 hours!
In addition to the support from the leader of one of the worlds top nations, cryptocurrency has plenty more cards up its sleeve. Key growth factors and expert insights:
- Institutional investor interest: Major corporations and institutional investors continue to increase their Bitcoin investments, supporting high demand and limited supply in the market. For example, well-known company MicroStrategy (#MSTR) acquired 5,445 BTC for $150 million from August through late September!
- Rising demand amid economic uncertainty: With inflation on the rise, geopolitical instability, and volatility in traditional markets, investors are seeking more stable assets. Bitcoin, alongside gold (XAUUSD), is becoming a preferred choice for capital preservation.
- Expectations of U.S. Fed policy easing: With potential interest rate cuts on the horizon, interest in cryptocurrencies as alternative assets is increasing. Experts estimate an 87% probability of a rate cut at the next meeting, creating additional incentives for investing in BTC and other crypto assets.
- Positive analyst forecasts: The projected minimum Bitcoin price in January 2025 is $71,468, with an average of $78,168 and a maximum of $80,402. By December, these figures are expected to rise to $106,235, $109,213, and $124,937, respectively. Growth is anticipated to remain steady, without declines or corrections, throughout the year.
On September 19, 2024, FreshForex analysts highlighted the undeniable growth drivers for the entire crypto sector. With Trump at the helm of the U.S., crypto growth is practically inevitable! Dont miss your chance!
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12-11-2024, 09:58 PM #834CRAZY SURGE: INDICES AND CRYPTO AT NEW HIGHT!
At the same time, U.S. indices staged an impressive rally, breaking records: the S&P 500 (#SP500) surged 4.66% over the week, crossing the $6,000 mark, while the Dow Jones Index (#DJI30) jumped 5.23% at its peak, exceeding $44,300!
- Financial services sector: U.S. bank stocks are rising with Trumps victory, as his promises to reduce inflationary pressures and provide tax benefits are already yielding results. Shares of major banks have shown growth of 10% to 13%! Among the top gainers: Goldman Sachs (#GoldmanSac), Bank of America (#BankAmer), Morgan Stanley (#MorganStan), and JPMorgan (#JPMorgan). All are available in our trading terminal!
- Support from the Fed: On Thursday, the Central Bank cut interest rates by a quarter-point. Fed Chair Jerome Powell noted in a press conference that the U.S. economy is in good shape. As reported by CNBC, investors generally see a Republican-controlled government as more favorable.
- Trump rally: The SP500 and DJI30 posted their best week since November 2023. Several Trump-related stocks have once again shown solid performance. Tesla (#Tesla), whose CEO Elon Musk was involved in the newly elected presidents campaign, rose by 8.2%, marking four consecutive positive sessions.
- Analyst predictions: The Republican victory has pushed U.S. Treasury yields to a four-month high of 4.5%, while bank and tech stocks are climbing. Major analytical agencies are confident that, following reforms by the current U.S. president, the market will gain even more momentum. FreshForex analysts have repeatedly forecasted the rise of indices and cryptocurrencies and remain confident in the upcoming growth of the entire U.S. market!
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