MCX Silver Gold By on Dips: Gold and Silver took some beating after the US Fed updated its monetary policy. The news was what most of the market anticipated but still we saw a crash in precious metals.
Fed rate hikes have largely been priced in by the gold market; however the Federal Reserve’s plan to reduce its balance sheet before the end of the year remains a wild card. Gold has drifted back to $1800 and once again $1840 proved to be strong resistance just like it was in the year 2021.
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