Quick Fundamental Outlook Following the Federal Reserve’s announcement of no further interest rate hikes and anticipated cuts in 2024, gold prices surged in the Asian market, surpassing the significant $2,000 per ounce mark. This shift, driven by the Fed’s dovish stance and efforts to rein in inflation to its 2% target, led to a decline in the dollar, bolstering gold’s appeal. The precious metal’s trend remains bullish, with a breakout above $2,040 potentially opening the gates for further ascension, yet caution is advised as the market decides whether this level is a springboard or a ceiling.