Silver remained below $31 an ounce on Wednesday as investors awaited a key US inflation report that could provide further clarity on the Federal Reserve’s monetary policy direction.
Federal Reserve
US Fed meeting: No change in rates, US markets fall after announcement
US Fed meeting: The process of rate cuts in the US has stopped for the time being. In the Federal Reserve meeting held on Wednesday, January 29, it has been decided not to make any change in the rates. This decision has been as per the market estimates. After the decision of the central bank, the rates will remain in the range of 4.25 percent to 4.5 percent.
Gold Futures Rise on Geopolitical Tensions, China Bank Purchases
Gold futures rose on safe-haven demand and central bank buying. Futures rose 0.5% to $2,699.30 per troy ounce.
Gold Price Rises to near $2,650 [09-12-2024]
Gold price (Yellow Metal) trades with mild gains around $2,645 during the early Asian session on Monday. The renewed geopolitical tensions in the Middle East and Federal Reserve (Fed) rate cut expectations support the yellow metal. The US Consumer Price Index (CPI) for November will be in the spotlight on Wednesday.
Gold Price Recovers Further to Nearly $2,636 on the Fresh Escalation in the war Between Russia and Ukraine
Gold price (Yellow Metal), Silver (XAG/USD) extends its recovery for a 2nd consecutive day, trading around $2,636 in European hours on Tuesday, as Ukraine has already launched US-made ATACMS ballistic missiles into Russia, according to reports from local media RBC citing a source from the Ukrainian Armed Forces. The move has escalated fears of a nuclear war, prompting investors to flee towards safe-haven assets such as Gold.
Gold Defends Key $2,547 Support; What’s Next?
Spot Gold Price Forecast: The short-term technical outlook for Gold price remains more or less the same, with any recovery attempts likely to be short-lived as long as the 14-day Relative Strength Index (RSI) stays bearish.
Federal Reserve ready to cut interest rates by 25 basis points
The US Federal Reserve (Fed) will announce monetary policy decisions following the November policy meeting on Thursday, just barely two days after Donald Trump was elected as the 47th president of the United States. Market participants widely anticipate that the US central bank will lower the policy rate by 25 basis points (bps) to the range of 4.5%-4.75%.
I See a 25 Basis Point Rate Cut; Neal Bhai
After the unexpected 50 basis point rate cut in September, market participants have turned their attention to the performance of the US economy to gauge the likelihood of further cuts. This focus aligns with the Federal Reserve’s shift toward monitoring the labor market, although inflation, especially excluding food and energy costs, is proving more stubborn than before.
Strong US Jobs Report Takes Pressure Off Fed for Next Meeting
Surprisingly strong hiring in September has taken pressure off the Federal Reserve by reducing worries over the US labor market, giving policymakers room to continue cutting interest rates at a more gradual pace in coming months.
The Fed is in no Hurry to Cut Interest Rates
Gold (XAU/USD) started the new week under bearish pressure and fell by nearly 1% on Monday. Speaking at the annual meeting of the National Association for Business Economics, Federal Reserve (Fed) Chair Jerome Powell refrained from giving any new hints about the next policy move.