Outlined in the chart is gold's reaction to 3 fed dovish fed announcements
1. A end of "autopilot" rate hikes
2. A quarter point rate cut
3. A second quarter point cut
Each of these decisions lead gold higher in the medium term. In the very short term, it has formed the same pattern. An initial dump in the price of gold, followed by a small cupping shape and then a quick breakout. Gold should continue on another rally similar to the previous 2 fed decisions.
1. A end of "autopilot" rate hikes
2. A quarter point rate cut
3. A second quarter point cut
Each of these decisions lead gold higher in the medium term. In the very short term, it has formed the same pattern. An initial dump in the price of gold, followed by a small cupping shape and then a quick breakout. Gold should continue on another rally similar to the previous 2 fed decisions.