Today(Wednesday) the FED Interest rate decision will be announced
Today (Wednesday) the Markerts expexted Increase in Interest rate by FED upto 0.25%
Gold prices experienced a rise on Wednesday as investors turned to the safe-haven asset ahead of the anticipated rate hike by the U.S. Federal Reserve laterin the day. With markets widely expecting the Fed to increase rates by 25 basis points, concerns about inflation have intensified, prompting investors to seek the stability and security offered by gold.
Analysts suggest that the Fed's decision to raise rates may indicatein the day. The market consensus is that the Fed will raise rates by 25 basis points. This increase in interest rates is seen as a sign that the central bank believes inflation is under control. As a result, some investors are turning to gold as a hedge against any potential economic turbulence.
Additionally, analysts suggest that the Fed may leave the door open for one more rate hike in either September or November. This uncertainty has further fueled demand for gold, as investors seek to protect their portfolios from any potential market volatility.
The rise in gold prices was also supported by a slight weakening in the U.S. dollar and a decline in yields, which had reached two-week highs. Both of these factors make gold more attractive to investors.
Overall, the increase in gold prices can be attributed to the belief that the fight to tame inflation may be nearing its endgame. Investors are turning to gold as a safe-haven asset amidst the potential for economic uncertainty and market turbulence.
My Trading View: i am keeping on Sell from the weeks & finally today a high posibility of Sell. My position are from 1970s area till the 1938 level.