During the early Asian session on Monday, gold prices (XAU/USD) surged to an unprecedented high, breaching the significant psychological barrier of $2,100. The climb was attributed to widespread speculation that the Federal Reserve (Fed) has reached the apex of its rate hike cycle, consequently amplifying the demand for the precious yellow metal.
This bullish momentum for gold gained further traction as markets continued to factor in the possibility of an impending interest rate reduction, potentially as early as March. The CME FedWatch Tool indicates that market sentiment is now leaning towards a probability of more than 50% for a rate cut within the first quarter of 2024.
Is this the right time to invest
