Chances are skewed in gold’s favor, as it is more likely than not that the Fed will maintain their dovish stance, this according to Will Rhind, CEO of GraniteShares.
“The expectations, in terms of the market right now, are so overwhelmingly for a rate cut that we have, right now from a probabilities perspective, more chance of rates going to zero than we do one hike in the market,” Rhind told Kitco News. “So, at the moment, you’ve got real interest rates coming down, or expectations of real interest rates coming down and that’s always a positive to gold.”