GOLD

Gold

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 <p>Spot <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> prices jumped by 0.3% to $2,043.80 per ounce by 0615 GMT. The rally represents the fourth consecutive day the yellow metal has seen a price increase. On Wednesday, bullion reached a two-week high of $2,055.89. However, US <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> futures fell by 0.3% to $2,061.20.</p>
 <p>On the other hand, spot silver fell 0.2% to $22.88 per ounce. Meanwhile, platinum dropped 0.2% to $915.73, and palladium edged 0.1% lower to $975.56.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="721" src="https://cdn.thebittimes.com/images/2024/02/01/53b84855e8f895db6184375baed676cc.webp" alt class="wp-image-126889" srcset="https://cdn.thebittimes.com/images/2024/02/01/53b84855e8f895db6184375baed676cc.webp 1024w, https://cdn.thebittimes.com/images/2024/02/01/53b84855e8f895db6184375baed676cc.webp 300w, https://cdn.thebittimes.com/images/2024/02/01/53b84855e8f895db6184375baed676cc.webp 768w, https://cdn.thebittimes.com/images/2024/02/01/53b84855e8f895db6184375baed676cc.webp 380w, https://cdn.thebittimes.com/images/2024/02/01/53b84855e8f895db6184375baed676cc.webp 550w, https://cdn.thebittimes.com/images/2024/02/01/53b84855e8f895db6184375baed676cc.webp 800w, https://cdn.thebittimes.com/images/2024/02/01/53b84855e8f895db6184375baed676cc.webp 1160w, https://cdn.thebittimes.com/images/2024/02/01/53b84855e8f895db6184375baed676cc.webp 1420w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: LSEG
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 <p><strong>Also Read: Gold Price Surges Past $2025; Here is How High It Can Go in February</strong>.</p>
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 <p>After a plummet in October, the yellow metal’s prices have gradually climbed over the past few months.</p>
 <h3 class="wp-block-heading" id="h-why-is-gold-going-up">Why is Gold going up?</h3>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="585" src="https://cdn.thebittimes.com/images/2024/02/01/a830d88e3e4ff9e111ca4686c4003531.webp" alt="Gold (XAU/USD) Prices Near One-Week Lows; Can Price Dip Below $2,000?" class="wp-image-123319" srcset="https://cdn.thebittimes.com/images/2024/02/01/a830d88e3e4ff9e111ca4686c4003531.webp 1024w, https://cdn.thebittimes.com/images/2024/02/01/a830d88e3e4ff9e111ca4686c4003531.webp 300w, https://cdn.thebittimes.com/images/2024/02/01/a830d88e3e4ff9e111ca4686c4003531.webp 768w, https://cdn.thebittimes.com/images/2024/02/01/a830d88e3e4ff9e111ca4686c4003531.webp 1536w, https://cdn.thebittimes.com/images/2024/02/01/a830d88e3e4ff9e111ca4686c4003531.webp 380w, https://cdn.thebittimes.com/images/2024/02/01/a830d88e3e4ff9e111ca4686c4003531.webp 550w, https://cdn.thebittimes.com/images/2024/02/01/a830d88e3e4ff9e111ca4686c4003531.webp 800w, https://cdn.thebittimes.com/images/2024/02/01/a830d88e3e4ff9e111ca4686c4003531.webp 1160w, https://cdn.thebittimes.com/images/2024/02/01/a830d88e3e4ff9e111ca4686c4003531.webp 1792w" sizes="(max-width: 1024px) 100vw, 1024px">
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 <p>The recent rally is most likely due to expectations of the Federal Reserve to cut interest rates. However, the Fed has pushed back against the likelihood of a cut in March. Nonetheless, the central bank is confident inflation rates will come to the 2% target.</p>
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 <p>According to Jigar Trivedi, an analyst at Reliance Securities, the Fed has ‘<strong>kept the window open for interest rate cuts, just not so much for one in March, keeping <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> supported.</strong>‘</p>
 <p>The Fed left interest rates unchanged after its most recent meeting. Traders anticipate 142 basis points (bps) of Fed rate cuts this year. While speaking on the possibility of rate cuts, Fed chair Jerome Powell stated, ‘<strong>I don’t think it’s likely that the committee will reach a level of confidence by the time of the March meeting.</strong>‘</p>
 <p><strong>Also Read: BRICS: JP Morgan Predicts Future Gold Price</strong></p>
 <p>According to a recent report by JPMorgan, <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> prices could dip before reaching new heights. Specifically, it forecasted a continued surge to the $2300 level at the concluding months of this year.&nbsp;According to the financial institution, rate cuts and falling US real yields are driving <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a>’s growth.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/gold-prices-climb-for-4th-consecutive-day-here-s-why-tbt78472.html">https://thebittimes.com/gold-prices-climb-for-4th-consecutive-day-here-s-why-tbt78472.html</a></p>

Gold Prices Climb For 4th Consecutive Day, Here's Why

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