Gold Hits New High / Central Banks in the Spotlight / Bitcoin… | FRC
Market Intel Weekly
Gold Hits New High / Central Banks in the Spotlight / Bitcoin Outlook Turns Bullish
ByFRC Team
Key Highlight
Last week, the S&P 500 was up 2.5% ahead of a potential Fed rate cut. The US$ fell 1%, while gold briefly surpassed US$2,600/oz for the first time.
This week, all eyes are on the meetings of the Fed, the Bank of England (BoE), and the Bank of Japan (BoJ). While the BoE and BoJ are expected to hold rates steady, the Fed is anticipated to lower rates by 25 to 50 basis points.
Shares of a potash junior and a silver junior under coverage were up 22% last week.
Although our model anticipated weakness, Bitcoin (BTC) prices were up marginally last week despite a broader decline in crypto markets.
Our near-term outlook for BTC prices has turned from bearish to bullish.
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