GOLD - USD - Gold - 03/04/2024 (GMT)

The last week of February was notable due to the publication of the PCE index, known as a “FED’s inflation”. It had displayed a new peak for the 6 months, justifying a restrictive monetary policy of the Federal Reserve. The US dollar reacted with the rebound, but the most notable reaction was visible in Gold, which had crossed the 2050 level.
Stock indices were under pressure on Friday after shares of commercial real estate lender New York Community Bancorp plummeted 26% before the opening bell. However, inspite of the weak consumer sentiment report, stock indices have displayed a strong rally, as weaker views on the economy had lowered the probabilities of interest rate kept at the same level in June.
Yields of 30-year treasury bonds have continued to decline slowly despite high PCE reading earlier this week, though the intermediate-term outlook still points to disinflation, and weak economic publications support this view.
Gold, Nasdaq and Bitcoin are at the center of attention, as the US dollar fails to sustain a growing trend. Today, we will focus on Gold:The main theme in the markets this week is the furious rally in the Gold market. Such an aggressive move usually represents the price discovery, and most likely, it might be continued in the short-term perspective after a short consolidation. In the medium-term, price may rebound lower, as it had moved far away from the dynamic support.