Gold kicked off the year on a positive note, supported by expectations of interest rate cuts by the Federal Reserve starting in March. Factors contributing to these rate-cut hopes include progress in declining inflation and improving labor market conditions.
The price of gold has risen above Friday’s high, buoyed by expectations of the Federal Reserve implementing rate cuts early. The overall sentiment towards the gold price is highly positive, as short-to-long term Exponential Moving Averages (EMAs) are showing an upward trend.
