Gold Surges, Dollar Dives: What's Next for Traders?

Gold is back in the spotlight as it rockets toward the $3,400 mark, following a rollercoaster drop and rebound of $100 in just 10 days. Meanwhile, the US dollar is under intense pressure, breaking below 98 after a weak NFP report shook investor confidence in the Fed's "higher-for-longer" stance.

With markets now pricing in up to 75 basis points in rate cuts, traders are shifting into safe havens like gold and risk-on currencies such as the EUR, GBP, AUD, and NZD. The DXY remains on a downward trajectory, with analysts eyeing 97.50 and 96.50 as potential targets in the weeks ahead.

Don’t miss the key events ahead: the Bank of England decision, critical USD updates, and fresh insights on market momentum.

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