Gold Surpasses $3,000 Mark, Market Awaits FOMC for Insight on Future Interest Rate Cuts

The price of gold appears to have reached a new historical high recently. According to market data, the price of gold has surpassed $3000 per ounce, reaching a peak of $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 currencies remain volatile. Although Bitcoin is hailed as digital gold, the two trends are far apart. Gold has seen a gain of over 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 18. The market generally expects the Federal Reserve to 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 rate cuts that may be revealed during the meeting. This is crucial for market sentiment and investment decisions. According to data from FedWatch, the market currently anticipates a rate cut decision in June.