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In what is a sudden turn of events, the gold price has surpassed the important $2000 mark. Moreover, technical analysis shows that a sustained rally could be in play for the asset. Subsequently, many have predicted that an all-time high is not out of the question for the asset. For several days, resistance levels stood in the way of the asset’s eventual turn beyond the $1950 mark. Now, Fundstrat’s Mark Newton has predicted that the asset has an “intermediate target” to reach $2500 . Subsequently, its current price of $2014 leaves it with immense potential. Also Read: Gold Prices Rally Towards $2000 ; When Will It Reach $2100? Gold Price Predicted to Reach Heights of $2500 Few assets on the market have become as embraced in recent years as gold. Indeed, the precious metal has become a key investment amid the rather disheartening economic circumstances of the world as a whole. Subsequently, its price has seen massive increases, with it surpassing key p...

The market forecast reveals annual CPI inflation for June fell to 3.1%, marking the 12th consecutive month of falls. It is the lowest since March 2021. Also, core CPI inflation decreased to 5% from 5.3% in May. However, the monthly CPI for June rises 0.3% against 0.1% last month. advertisement Wall Street analysts also estimated a massive fall in CPI inflation. Bloomberg, Citi, HSBC, UBS, and Nomura expect CPI at 3%, while Goldman Sachs, BMO, Barclays, Morgan Stanley, TD Securities, and CIBC estimated inflation to fall to 3.1%. Meanwhile, JPMorgan, RBC, and Visa forecasted annual CPI at 3.2%. The headline inflation falling to 3-3.2% will bring further upside move in the stocks and crypto markets. JPMorgan’s analysts said inflation is likely to fall below the consensus estimates and compel the Fed to shift to a dovish outlook. The CME FedWatch Tool shows a 90% probability of a 25 bps hike to be announced during the FOMC meeting on July 26. However, the US do...