Gold Surpasses $3,000 Mark per Ounce as Markets Await FOMC’s Clues on Future Interest Rate Cuts

The price of gold seems to have reached a new all-time high recently. According to market data, the price of gold has surpassed $3,000 per ounce, reaching a peak of $3,005 per ounce. This level reflects investors’ concerns about economic uncertainty. This increase is related to trade wars, geopolitical tensions, and inflation worries, which have increased the demand for gold as a safe-haven asset.

In the cryptocurrency market, there has not been a significant trend. Apart from the BNB Chain ecosystem driven by CZ, mainstream coins are still fluctuating. Although Bitcoin is hailed as digital gold, the trends of the two are far apart. The price of 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. The market generally expects the Federal Reserve to keep the federal funds rate unchanged at 4.25% to 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 the meeting may reveal. This is crucial for market sentiment and investment decisions. According to FedWatch data, the market is currently anticipating a rate cut decision in June.