Fed Set to Raise Rates Again
✅ Draghi’s comments come ahead of the Fed’s two-day meeting and anticipated rate hike Wednesday, but they also come as the Bank of Japan sounds slightly less dovish and other central banks raise their interest rates.
Interest Rates
Gold May Hit $1,300 by End of Year, ICBC Says
Gold Silver Reports (GSR) – Bullion is set to average $1,260 an ounce in the third quarter and rise further in the following three months as interest rate increases are priced in and physical demand emerges, Marcus Garvey, a London-based commodities strategist, said in an interview in India.
Bank of England Monetary Policy Decision Today – All the Previews in one Place
BoE Monetary Policy Committee (MPC) meeting is Thursday 2 August 2018
Previews:
✅ Preview of the Bank of England meeting (Super) Thursday 2 August 2018
✅ Are you ready for Super Thursday from the UK? BoE preview (RBC) (MS, Nomura)
✅ Early heads up preview for the Bank of England meeting (TD, Barclays, BNP Paribas)
Trade Wars Need To Escalate To Support Gold
Gold Silver Reports (GSR) – Trade Wars Need To Escalate To Support Gold — While gold could get a boost from volatile currency markets next week, analysts are not expecting to see the market benefit from safe-haven flows.
Gold Trending up, But Still Stalled by Hawkish Fed
Gold Silver Reports (GSR) – Gold trending up, But Still Stalled by Hawkish Fed – Gold has risen more than 3 percent this year, buoyed by international tensions and volatility in equities, but has yet to emerge from a tight trading range in the face of an expectation for rising U.S. interest rates, traders say.
MCX Gold Prices Ready for Blast Above @30533 Buy on Dips
Gold Silver Reports (GSR) – MCX Gold Prices Ready for Blast Above @30533 Buy on Dips — MCX Gold Prices settled up 0.48% @30670 as Wall Street stocks tumbled and the dollar fell as rhetoric from U.S. President Donald Trump and Chinese officials fed worries about a possible trade war, and after U.S. jobs data came in weaker than expected.
Federal Reserve Raises Interest Rates at First Meeting with Powell at Helm
Gold Silver Reports (GSR) – The Federal Reserve raised interest rates by a quarter point on Wednesday, its first rate hike this year, in a decision that was widely anticipated by markets.
India’s Current Account Deficit Shrinks More Than Estimated
Gold Silver Reports – India’s current account deficit narrowed more than estimated last quarter, which could help the rupee before an expected rise in interest rates by the U.S. Federal Reserve.
Bank of England Hikes Rates
Gold Silver Reports – Bank of England Hikes Rates – The Bank of England raised interest rates for the first time in more than 10 years on Thursday and said it expected only “very gradual“ further increases over the next three years.
Janet Yellen’s Outlook for Higher U.S. Interest Rates
Gold Silver Reports — Janet Yellen’s Outlook for Higher U.S. Interest Rates — They should’ve had more faith. Hedge funds reduced their wagers on a bullion rally for the first time in three weeks, just before prices neared a two-month high and capped a third straight week of gains.