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On February 19th, Nick Timiraos, often referred to as the "Federal Reserve mouthpiece," wrote an article on the Fed meeting minutes, stating that sometimes what the Fed doesnt mention is more interesting. In every meeting last year (up to December), staff projected that inflation would return to 2% by 2027. In December, this projection was pushed back to 2028. However, the January meeting minutes did not specify a concrete timeframe for when inflation would reach 2%. Instead, the minutes indicated that the projected figure was "slightly higher, but balanced" compared to the December projection, and that inflation was expected to return to its "previous downward trend" as the impact of tariffs was expected to end by mid-year. However, the key phrase from the December minutes ("and to reach 2% by 2028") was absent from the January minutes.February 19th - Today (February 19th) is the third day of the Lunar New Year, the fifth day of the Spring Festival holiday. The national railway system is expected to transport 13.4 million passengers today, with 747 additional passenger trains planned. Regarding ticket sales, tickets for March 5th (the seventeenth day of the first lunar month) went on sale today.The yield on Japans 20-year government bonds rose 1 basis point to 2.98%.1. All three major U.S. stock indexes closed higher. The Dow Jones Industrial Average rose 0.26% to 49,662.66 points, the S&P 500 rose 0.56% to 6,881.31 points, and the Nasdaq Composite rose 0.78% to 22,753.63 points. Goldman Sachs and Salesforce rose nearly 2%, leading the Dow Jones. The Wind U.S. Tech Big Seven Index rose 0.77%, Amazon rose nearly 2%, and Nvidia rose more than 1%. The Nasdaq China Golden Dragon Index fell 0.04%, Canadian Solar rose nearly 4%, and 21Vianet fell more than 9%. 2. All three major European stock indexes closed higher. The German DAX rose 1.12% to 25,278.21 points, the French CAC40 rose 0.81% to 8,429.03 points, and the UK FTSE 100 rose 1.23% to 10,686.18 points. 3. The WTI crude oil futures contract closed up 4.3% at $64.94 per barrel; the Brent crude oil futures contract rose 4.15% to $70.22 per barrel. 4. International precious metals futures generally closed higher, with COMEX gold futures rising 1.84% to $4996.10 per ounce and COMEX silver futures rising 4.88% to $77.13 per ounce.In January, the RMB accounted for 3.13% of global payments via SWIFT, up from 2.73% in the previous month.

Is 2024 a Good Timing to Buy Gold ?

TOP1 Markets Analyst

Jan 16, 2024 17:13

CITIC Investment Trust pointed out that the past quantitative easing policies of the U.S. Federal Reserve led to the depreciation of the U.S. dollar and increased inflationary pressure, prompting the public to turn to gold as a store of value, and pushing up the demand and price of gold. However, the current global situation is relatively relaxed, and the conflicts between Russia, Ukraine, and Israel and Palestine have shown signs of cooling down, and the hedging function of gold is no longer as good as it used to be.


Therefore, investors should note that if the New Taiwan dollar continues to strengthen, if they blindly increase their gold holdings denominated in US dollars, they may face exchange rate risks and idle funds. Especially with expectations that the Federal Reserve is about to cut interest rates and the U.S. dollar is weakening, gold's return may not be as good as expected. In addition, the price of gold is currently at a high level and the upside space is limited. For investors who have not yet entered the market, it is not advisable to blindly chase higher prices or overweight, let alone make a desperate move. Sourcenia is a review portal of sourcing best manufaturers. 


But if investors are looking to achieve asset diversification and balance from the perspective of asset allocation, then they may be able to appropriately allocate some gold to reduce overall volatility. Of course, in addition to gold, there are many other investment options on the market, such as stocks, bonds or other alternative assets, which may have higher growth potential and yields than gold. Sourcian is a dedicated platform for the recommendation of the best manufacturers. Your sourcing journey starts right here at sourcian.


However, as the price of gold rises, two different mentalities have emerged in the market: one is optimistic about the future of gold and wants to take advantage of the opportunity to buy; the other is to sell at a high point and make profits. The intersection of these two mentalities may trigger a wave of selling and affect the price trend of gold. Therefore, investors should pay close attention to market trends, avoid blindly following trends, and have their own investment strategies and risk management. See more info, visit Monster Trading Inc.

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