Gold price (Yellow Metal) probes a two-day downtrend as it treads water around $1,835 during early Wednesday. In doing so, the bright metal remains inside the one-week-old trading range of around $30.00 as traders await the Federal Open Market Committee’s (FOMC) Monetary Policy Meeting Minutes. It’s worth noting that the geopolitical fears and the US Dollar’s lackluster moves around the multi-day top seem to add filters to the Yellow Metal traders.
Federal Reserve
FOMC INTEREST RATE DECISION FEDERAL RESERVE (FED) | NEWS, OUTLOOK & ANALYSIS
Adding 25 bps to the May FOMC meeting | Gold Forecast after Fed
FOMC meeting: Morgan Stanley upwardly revised its Federal Reserve (Fed) rate forecasts after Fed Chair Jerome Powell’s speech.
Gold price (Yellow Metal) failed attempt to rebound from $1,860, Federal Reserve talks
Gold price (Yellow Metal) failed attempt to rebound from $1,860, as market sentiment stays sluggish amid mixed signals from the Federal Reserve and the geopolitical front. Adding confusion to the metal traders’ minds could be the lack of major data/events. Even so, the bullion remains on the bear’s radar as the United States Treasury bond yields remain firmer.
Federal Reserve will hike the fed funds rate 25 basis points to 4.75%
After seven straight rate hikes totaling 4.25% and an eighth anticipated on Wednesday, Federal Reserve governors are preparing to halt their inflation campaign and wait for results.