Gold prices witnessed extreme volatility on Thursday, turning out to be one of the best days for traders, in the face of the fateful event of the Russian incursion of Ukraine.
Spot Gold
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Gold Prices Near Highest Since November as Traders Seek Inflation Hedge
Gold prices held near the highest level in almost two months amid demand for an inflation hedge, while the bond market sell-off stalled and U.S. equities continued to retreat.
Gold Prices Contemplates Next Move Ahead of ECB, BOE Decisions
Gold prices enjoyed good two-way businesses on the much-awaited hawkish Fed decision, with the bulls finally fighting back control from two-month lows of $1,752.70. The Fed doubled the pace of tapering to $30 billion per month while the dot plot showed three rate hikes for 2022.
Spot Gold Current price $1,772, Bearish breakout $1,745
Gold Price Forecast: Gold prices plunged heading into London’s close, hitting $1,766.38 a troy ounce. The dollar gathered momentum following the release of the US Producer Price Index, which hit a record 9.6% YoY in November, higher than anticipated.
Gold Prices Only Modestly Up, Inflation Beast Roars
The inflation beast is growing stronger. Unfortunately for gold prices bulls, we cannot say the same about the yellow metal. Is sacrifice going on tomorrow?