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Precious metals are holding strong right now. Gold's been hovering around that two-week peak we saw recently, and the momentum seems pretty sticky. What's driving this? Rate cut expectations from the Fed are back in play.
Traders are repositioning as hints of monetary policy shifts emerge. When rate cut speculation heats up, gold typically catches a bid since lower rates reduce the opportunity cost of holding non-yielding assets. Pretty textbook stuff, but the timing is interesting.
The yellow metal has been resilient despite some choppiness in broader markets. If the Fed signals any dovish tilt in upcoming statements, we might see gold push even higher. Worth watching how this plays out against risk assets and crypto correlations.