Could gold (XAUUSD) make a deeper correction before hitting all-time highs again? – Prediction – March 16, 2024

Gold is hitting record highs, but the U.S. economy has proven resilient, with the latest CPI and inflation data still showing no decline.

My thoughts on this are that the FED may delay rate cuts until later in the third and fourth quarters based on March data. The Federal Reserve will keep interest rates at 5.5% at its March 20 meeting and gold prices will likely fall in the short to medium term.

The range in 2024 will be between $1830 and $2300 per ounce. This could provide an opportunity to sell before looking for a long position by the end of 2024. Remember that US elections also determine the value of gold.

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