Gold

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 <p>Amid positive sentiments from the Federal Reserve regarding interest rate cuts, the <a rel="noopener noreferrer nofollow" title="gold price" href="https://thebittimes.com/tag/gold-price.html">gold price</a> is set to surpass <a rel="noopener noreferrer nofollow" title="$2050" href="https://thebittimes.com/tag/2050.html">$2050</a>, with experts expecting no downward correction in sight. Indeed, the metal has seen increased volatility since its all-time high in early December. However, it could be poised for a continued upswing into the new year.</p>
 <p>Currently, the <a rel="noopener noreferrer nofollow" title="gold price" href="https://thebittimes.com/tag/gold-price.html">gold price</a> is trading at $2038, up more than 0.5% over the last 24 hours. However, some forecasters believe the asset could reach last week’s high of $2048. Subsequently, it is set to face a key resistance level at that price, with support emerging at $2027.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="585" src="https://cdn.thebittimes.com/images/2023/12/21/827821d1f133415e3b11a8bc4584f3d0.webp" alt class="wp-image-121818" srcset="https://cdn.thebittimes.com/images/2023/12/21/827821d1f133415e3b11a8bc4584f3d0.webp 1024w, https://cdn.thebittimes.com/images/2023/12/21/827821d1f133415e3b11a8bc4584f3d0.webp 300w, https://cdn.thebittimes.com/images/2023/12/21/827821d1f133415e3b11a8bc4584f3d0.webp 768w, https://cdn.thebittimes.com/images/2023/12/21/827821d1f133415e3b11a8bc4584f3d0.webp 1536w, https://cdn.thebittimes.com/images/2023/12/21/827821d1f133415e3b11a8bc4584f3d0.webp 380w, https://cdn.thebittimes.com/images/2023/12/21/827821d1f133415e3b11a8bc4584f3d0.webp 550w, https://cdn.thebittimes.com/images/2023/12/21/827821d1f133415e3b11a8bc4584f3d0.webp 800w, https://cdn.thebittimes.com/images/2023/12/21/827821d1f133415e3b11a8bc4584f3d0.webp 1160w, https://cdn.thebittimes.com/images/2023/12/21/827821d1f133415e3b11a8bc4584f3d0.webp 1792w" sizes="(max-width: 1024px) 100vw, 1024px">
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 <p><strong>Also Read: Gold Price Predicted To Hit $2,150, Here’s When</strong></p>
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 <h2 class="wp-block-heading" id="h-gold-price-approaching-2050-with-no-reverse-correction-impending">Gold Price Approaching $2050 With No Reverse Correction Impending</h2>
 <p>The entire gold market has seen massive developments this month, despite growing instability in price. Indeed, on December 4th, the asset reached a new all-time high of $2150. Moreover, the metal had not reached similar levels since 2020, marking a massive return to form.</p>
 <p>Yet, the price quickly retreated, falling back below the $2100 mark. However, since then, it has been slowly crawling back. Although there is no expectation of a bullish breakout, the <a rel="noopener noreferrer nofollow" title="gold price" href="https://thebittimes.com/tag/gold-price.html">gold price</a> is set to surpass <a rel="noopener noreferrer nofollow" title="$2050" href="https://thebittimes.com/tag/2050.html">$2050</a> with no downward correction in sight. Ultimately, this leads to what should be an overall positive end to 2023.</p>
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 <figure class="wp-block-image size-full"><img decoding="async" width="969" height="721" src="https://cdn.thebittimes.com/images/2023/12/21/8c3bea32f5f737376e0c8693ca52e65b.webp" alt="Gold Prices Bars Fed" class="wp-image-121763" srcset="https://cdn.thebittimes.com/images/2023/12/21/8c3bea32f5f737376e0c8693ca52e65b.webp 969w, https://cdn.thebittimes.com/images/2023/12/21/8c3bea32f5f737376e0c8693ca52e65b.webp 300w, https://cdn.thebittimes.com/images/2023/12/21/8c3bea32f5f737376e0c8693ca52e65b.webp 768w, https://cdn.thebittimes.com/images/2023/12/21/8c3bea32f5f737376e0c8693ca52e65b.webp 380w, https://cdn.thebittimes.com/images/2023/12/21/8c3bea32f5f737376e0c8693ca52e65b.webp 550w, https://cdn.thebittimes.com/images/2023/12/21/8c3bea32f5f737376e0c8693ca52e65b.webp 800w" sizes="(max-width: 969px) 100vw, 969px">
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 <p><strong>Also Read: Gold Prices Reach 1-Week High: Will It Reclaim $2,100 Next?</strong></p>
 <p>Strategists at Commerzbank noted that the metal could be in for a positive performance throughout this week. This comes despite the Federal Reserve noting uncertainly as to when interest rate cuts could come to fruition. Strategists stated that, “According to [New York Fed President John] Williams, it is too early to think about easing monetary policy at the current time.”</p>
 <p>“All in all, however, it is presumably still just a question of time before the US Federal Reserve lowers its interest rates,” they added. Thereafter, they stated, “We see no reason for any significant downward correction of the <a rel="noopener noreferrer nofollow" title="gold price" href="https://thebittimes.com/tag/gold-price.html">gold price</a> in the foreseeable future.” Meanwhile, the metal is expected to be back on track for renewed highs throughout the coming year.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/gold-price-to-surpass-2050-as-no-downward-corrections-in-sight-tbt74324.html">https://thebittimes.com/gold-price-to-surpass-2050-as-no-downward-corrections-in-sight-tbt74324.html</a></p>

Gold Price to Surpass $2050 as No Downward Corrections in Sight

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