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Goldman's Chief Economist Says the Dollar Has Further to Fall. Here's Why.
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Is there a good opportunity to seize after the "ceiling" of 3500 USD? The Gold correction verifies its strong nature.
On Thursday (April 24), spot Gold showed signs of recovery, with prices stabilizing above $3,300. This trend was influenced by USA Treasury Secretary Scott Bencet's statements on international economic and trade relations, as well as market bets on a Federal Reserve rate cut. Fundamental Analysis Secretary Bencet stated on Wednesday that the USA would not unilaterally reduce tariffs on imports from certain economies and emphasized that high tariffs need to be "mutually reduced" to promote dialogue. This statement dampened market expectations for a quick breakthrough in trade negotiations. According to Reuters, Bencet clearly denied that the White House was considering making unilateral tariff cuts on certain economy imports.
