Hello traders, nice to learn about gold with you today! Gold prices increased by $7 per ounce today, reaching $1,895 per ounce. However, gold's upward momentum is currently limited due to the rise in US treasury yields.
This week, before the annual meeting of the Federal Reserve (Fed), gold prices are expected to remain relatively stable with minimal fluctuations.
Nevertheless, the Fed will not be able to sustain high interest rates as the US economy begins to slow down. The Fed may have to reduce interest rates even if inflation remains high. This could potentially support gold prices in the near future.
This week, before the annual meeting of the Federal Reserve (Fed), gold prices are expected to remain relatively stable with minimal fluctuations.
Nevertheless, the Fed will not be able to sustain high interest rates as the US economy begins to slow down. The Fed may have to reduce interest rates even if inflation remains high. This could potentially support gold prices in the near future.
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good luck everyone
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According to the CME FedWatch Tool, markets see an 86.5% chance that the Fed will keep rates unchanged in the 5.25% to 5.50% range.
