GOLD - waiting for the Fed to decide on CPI
Updated
Gold prices have declined slightly due to external factors, including the recovery of the US dollar and rising bond yields. The US Dollar Index has risen to 103.5%, making gold less attractive to buyers holding other currencies. Additionally, the 10-year US Treasury bond yield has increased to 3.776%, adding further pressure to the precious metal.
The market is currently anticipating the US Federal Reserve's monetary policy meeting to determine the next direction of the world's most powerful central bank. If the Fed opts to stop raising interest rates, it could potentially lead to a significant increase in gold prices.
The market is currently anticipating the US Federal Reserve's monetary policy meeting to determine the next direction of the world's most powerful central bank. If the Fed opts to stop raising interest rates, it could potentially lead to a significant increase in gold prices.
Note
If core inflation remains between 3% and 3.5% by the end of the year, the market won't expect the Fed to cut rates anytime soon either.
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