The price of gold continues to rise to its all-time high around $2156 as Chairman Jerome Powell's comments reinforce expectations of monetary policy easing this year. Betting on interest rate cuts is driving up the price of gold, and everyone anticipates that the easing will happen soon, further supporting gold.
The non-farm payroll report for February, set to be released on Friday, is expected to provide clearer information on the timing of the US interest rate cut. According to a Reuters poll, economists forecast that the US created 200,000 jobs in the month. If the employment figures are weaker than expected, it could push the price of gold even higher, nearing $2,200 per ounce.
The non-farm payroll report for February, set to be released on Friday, is expected to provide clearer information on the timing of the US interest rate cut. According to a Reuters poll, economists forecast that the US created 200,000 jobs in the month. If the employment figures are weaker than expected, it could push the price of gold even higher, nearing $2,200 per ounce.
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