Gold Prices Decline as Fed Expected to Cut Interest Rates, Signaling Potential Altcoin Rally

Gold prices have recently experienced a notable decline following a record high, with significant selloffs attributed to profit-taking amid weak global demand and anticipation of Federal Reserve interest rate cuts. This drop in gold, as highlighted by analyst Michael van de Poppe, may signal a shift in investor preference from traditional safe-haven assets like gold to riskier assets such as Bitcoin and altcoins, which have shown strong growth. The Federal Reserve's expected rate cuts are seen as potentially providing opportunities for investors to purchase gold at lower prices, despite ongoing volatility and a possible multi-week correction in gold prices. Indian equities have shown modest gains influenced by global cues, including the Fed's upcoming rate decision and international trade developments, while gold prices snapped an eight-week rally marking their first weekly decline. Market sentiment reflects cautious optimism with factors such as corporate earnings, foreign inflows, and geopolitical events playing significant roles in shaping investment trends. Overall, the interplay of monetary policy expectations and shifting risk appetites is driving notable movements in both precious metals and cryptocurrency markets.