Gold Surges Past $3,000 Mark as Market Awaits FOMC’s Clues on Future Interest Rate Cuts

The price of gold has recently reached a new historical high. According to market data, the price of gold has surpassed $3000 per ounce, with the highest reaching $3005 per ounce. This level reflects investors’ concerns about economic uncertainty. This increase is related to factors such as trade wars, geopolitical tensions, and inflation worries, which have increased the demand for gold as a safe-haven asset.

In the cryptocurrency market, there is no significant trend. Apart from the BNB Chain ecosystem driven by CZ, mainstream coins remain volatile. Although Bitcoin is hailed as digital gold, the trends of the two are quite different. Gold has risen by more than 20% since the beginning of the year, while Bitcoin has fallen by about 10%.

On the other hand, the Federal Open Market Committee (FOMC) will begin a two-day meeting on March 18th. It is widely expected that the Federal Reserve will maintain the federal funds rate between 4.25% and 4.50%. Investors are not concerned about whether there will be an interest rate cut in this meeting, but rather the clues about future interest rate cuts that may be revealed during the meeting. This is crucial for market sentiment and investment decisions. According to FedWatch data, the market currently anticipates a rate cut resolution in June.