Monday Market Update I 25-Mar-2024

Gold prices in Asian trading experienced a slight on Monday but remained below recent highs due to the strength of the US dollar.

Following the Federal Reserve’s decision to maintain interest rates, investors have a sense of cautious optimism. However, their confidence in anticipated rate cuts for 2024 has diminished in light of future projections.

In contrast, oil prices surged in early Asian trading due to concerns over global supply disruptions, with Brent crude futures climbing 0.6% to $85.95 a barrel and US crude futures rising 0.7% to $81.18 a barrel.

On the other hand, Bitcoin rebounded by 4.9% to $67,462.8. This increase was supported by capital flows into exchange-traded funds and anticipation of the upcoming “halving” event despite the cryptocurrency being $6000 below its peak in March.