World gold prices soared as the USD cooled
Updated
World gold prices soared as the USD cooled after US Federal Reserve Chairman Jerome Powell made less hawkish statements on monetary policy.
Fed Chairman Jerome Powell expressed satisfaction with the pace of cooling in US inflation over the past year. This is a less hawkish signal about monetary policy.
The DXY index - measuring the greenback's fluctuations against six major currencies - fell from 106 points to 105.4 points on the US market. Gold prices immediately increased.
Investors are betting on the possibility that the Fed will have to consider the possibility that cutting interest rates too late could affect the recovery and growth of the US economy.
Fed Chairman Jerome Powell expressed satisfaction with the pace of cooling in US inflation over the past year. This is a less hawkish signal about monetary policy.
The DXY index - measuring the greenback's fluctuations against six major currencies - fell from 106 points to 105.4 points on the US market. Gold prices immediately increased.
Investors are betting on the possibility that the Fed will have to consider the possibility that cutting interest rates too late could affect the recovery and growth of the US economy.
Note
SELL XAU 2359TP1: 2353
Tp2: 2347
SL: 2366
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