BlockBeats News, September 16th, supported by the weakening US dollar, the price of gold surged to a historic high on Tuesday, with spot gold surpassing the $3690 level. The market widely expects the Federal Reserve to cut interest rates at this week’s policy meeting. Capital.com analyst Kyle Rodda said: “Market sentiment is very optimistic, with the market betting on a rate cut ahead of the Federal Open Market Committee decision. The short- to medium-term outlook for gold remains strong.” He added: “The interest rate curve has absorbed a lot of dovish expectations, and if the Fed does not support them in its guidance and forecasts, it could lead to a seismic drop in gold prices. If the Fed aligns with market pricing, it could be a catalyst to push gold through the $3700 level.” (FX168)
