Reserve

Gold

<div class="watcher-guru">
 <p>Although it has faced increased volatility in recent weeks, the <a rel="noopener noreferrer nofollow" title="gold price" href="https://thebittimes.com/tag/gold-price.html">gold price</a> is back on track to see new highs in 2024 after the most recent Federal Reserve meeting. Indeed, the asset is currently trading above the $2030 level after a key breakthrough occurred yesterday.</p>
 <p>Specifically, the metal ascended beyond the $2000 level after several days of struggling to break $1980. Moreover, that ascension had aligned with the Fed policy meeting in which they hinted at incoming interest rate cuts throughout 2024. Now, the asset is once again aligned with optimistic forecasts for the upcoming year.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="585" src="https://cdn.thebittimes.com/images/2023/12/15/827821d1f133415e3b11a8bc4584f3d0.webp" alt class="wp-image-121818" srcset="https://cdn.thebittimes.com/images/2023/12/15/827821d1f133415e3b11a8bc4584f3d0.webp 1024w, https://cdn.thebittimes.com/images/2023/12/15/827821d1f133415e3b11a8bc4584f3d0.webp 300w, https://cdn.thebittimes.com/images/2023/12/15/827821d1f133415e3b11a8bc4584f3d0.webp 768w, https://cdn.thebittimes.com/images/2023/12/15/827821d1f133415e3b11a8bc4584f3d0.webp 1536w, https://cdn.thebittimes.com/images/2023/12/15/827821d1f133415e3b11a8bc4584f3d0.webp 380w, https://cdn.thebittimes.com/images/2023/12/15/827821d1f133415e3b11a8bc4584f3d0.webp 550w, https://cdn.thebittimes.com/images/2023/12/15/827821d1f133415e3b11a8bc4584f3d0.webp 800w, https://cdn.thebittimes.com/images/2023/12/15/827821d1f133415e3b11a8bc4584f3d0.webp 1160w, https://cdn.thebittimes.com/images/2023/12/15/827821d1f133415e3b11a8bc4584f3d0.webp 1792w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
 <p><strong>Also Read: Gold Price Overtakes $2000 as Fed Projects Rate Cuts for 2024</strong></p>
 <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div class="publift-ad add">
   <div data-fuse="22560828227"></div>
  </div>
 </div>
 <h2 class="wp-block-heading" id="h-gold-price-regains-optimal-position-for-2024-breakout">Gold Price Regains Optimal Position for 2024 Breakout</h2>
 <p>Earlier this month, gold investors made waves when the asset reached a new all-time high. Indeed, the metal was trading at $2150 in a surge that lasted a few days. However, since then, the asset has experienced a noticeable price correction that saw it struggle to break through from the $1980 mark.</p>
 <p>Yet, that has changed in recent days, with increased volatility a side effect of uncertain economic developments. Still, the <a rel="noopener noreferrer nofollow" title="gold price" href="https://thebittimes.com/tag/gold-price.html">gold price</a> appears to be back on track for new highs in 2024 after the most recent Fed meeting. Specifically, the agency opted to leave interest rates unchanged for the third consecutive meeting. Moreover, they signaled rate cuts to come at some point next year.</p>
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div id="primisContainer" class="add"></div>
 </div>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/12/15/b6050454fb61f60ffa64474e2e7e08bb.webp" alt="Gold Prices US Dollar USD Currency" class="wp-image-121125" srcset="https://cdn.thebittimes.com/images/2023/12/15/b6050454fb61f60ffa64474e2e7e08bb.webp 1024w, https://cdn.thebittimes.com/images/2023/12/15/b6050454fb61f60ffa64474e2e7e08bb.webp 300w, https://cdn.thebittimes.com/images/2023/12/15/b6050454fb61f60ffa64474e2e7e08bb.webp 768w, https://cdn.thebittimes.com/images/2023/12/15/b6050454fb61f60ffa64474e2e7e08bb.webp 1536w, https://cdn.thebittimes.com/images/2023/12/15/b6050454fb61f60ffa64474e2e7e08bb.webp 380w, https://cdn.thebittimes.com/images/2023/12/15/b6050454fb61f60ffa64474e2e7e08bb.webp 550w, https://cdn.thebittimes.com/images/2023/12/15/b6050454fb61f60ffa64474e2e7e08bb.webp 800w, https://cdn.thebittimes.com/images/2023/12/15/b6050454fb61f60ffa64474e2e7e08bb.webp 1160w, https://cdn.thebittimes.com/images/2023/12/15/b6050454fb61f60ffa64474e2e7e08bb.webp 1840w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: goldavenue.com
  </figcaption>
 </figure>
 <p><strong>Also Read: Gold Climbs 1.5% As US Dollar Weakens &amp; Treasury Yields Fall</strong></p>
 <p>MUFG Bank economists discussed the metals outlook for 2024 with FX Street. “Higher rates are typically negative for noninterest-bearing assets,” the bank stated. “Thus, the starting point of rate cuts matters for gold’s outlook.” Additionally, they noted that three rate cuts could easily propel the asset to previously unreached heights.</p>
 <p>“Gold- our most structurally bullish call for 2024- is set to hit record levels on a trifecta of Fed cuts,” they added. Ultimately such rate cuts should set the asset on an upward trajectory. Additionally, their consistency could set it on a clear path to heights that rival its previous all-time high set in 2020. Subsequently, it could very well settle beyond the levels even reached earlier this month.</p>
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div class="publift-ad add">
   <div data-fuse="22560828233"></div>
  </div>
 </div>
 <p></p>
</div>
<div class="cs-entry__tags">
 <ul>
  <li>gold price</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/gold-price-back-on-track-for-new-highs-in-2024-after-fed-meeting-tbt73733.html">https://thebittimes.com/gold-price-back-on-track-for-new-highs-in-2024-after-fed-meeting-tbt73733.html</a></p>

Gold Price Back on Track for New Highs in 2024 After Fed Meeting

Table of Contents

TheBitTimes

Other articles published on Dec 14, 2023

Crypto Analyst Predicts Cardano (ADA) Price Will Rise 1700% To $11, Gives Reasons Why

Blockchain.com Boosts Workforce for Expansion in Nigeria, Turkey

Analysts Spots Significant Patterns on the Polygon (MATIC) Price Chart

Cardano (ADA) Community Issued Critical Warning; What It Pertains To

Here's How to Be a Millionaire When Avalanche (AVAX) Hits $50

How To Create A Cryptocurrency: Ultimate Guide

Join our free newsletter for daily crypto updates!