Rate cut expectations for March jumped back higher today and brought the Comex PMs along for the ride. Here in the first few weeks of 2024, those rate cut expectations are the only thing that matters to the Comex gold price as evidenced again today with gold rising though rates and the POSX were higher, too.
We'll see what happens tomorrow. The only scheduled data is the "flash" PMIs for January. Perhaps they'll continue the trend of being weaker than expected? If so, rate cut expectations will grow again and PM prices will rally. It's madness, really, to think that this is all...
