Post #15824

Gold Holds the Line Near $5,000 as Rate-Cut Narrative Builds Gold is hovering around the $5,000 handle, still range-bound between roughly $4,700 and $5,100. After last week’s indecision, EdgeFinder has flirted with a bullish reading for Gold, suggesting macro may be shifting in favor of the metal — though a clear break from the range is still needed for confirmation. Last week’s CPI cooled more than expected, reinforcing the rate-cut narrative. Markets now price roughly 63 bps of Fed easing this year, or about two cuts, with July seen as the likely starting point. That backdrop is constructive for gold, which benefits as falling rates lower the opportunity cost of holding a non-yielding asset. Attention now turns to the Fed’s meeting minutes on Wednesday — any hint of urgency around easing could be the catalyst gold needs to re-accelerate. - Alan