Gold Price Soars to All-Time High, Investors Brace for Volatility
Gold markets experienced a wild ride at the open, initially surging over $100 before sharply dropping. The market blew through stoploss orders and struggled to find liquidity above. While interest rate cuts in the US are favorable for gold, some argue that the market may be overdone. Traders are pricing in potential rate cuts by the Federal Reserve in March, which could benefit gold. However, the immediate reversal raises concerns about follow-through. Despite the erratic movement, the market remains bullish, but caution is advised due to the abnormal spike and lack of volume during Asian trading.