The price of gold today is relatively stable, trading around $1914 per ounce.
The gold market is currently facing several challenges as the annual conference of the Federal Reserve (FED) - chaired by Jerome Powell - highlighted that inflation in the United States remains high. The monetary policy will continue to be tightened, but whether interest rates will increase further depends on economic data.
Immediately, market speculation suggests that interest rates in the US will remain high until the end of 2023. As a result, the USD has reversed its trend and increased in value across the board. Speculators are concerned that gold prices will decline, forcing them to sell and recover their capital.
The gold market is currently facing several challenges as the annual conference of the Federal Reserve (FED) - chaired by Jerome Powell - highlighted that inflation in the United States remains high. The monetary policy will continue to be tightened, but whether interest rates will increase further depends on economic data.
Immediately, market speculation suggests that interest rates in the US will remain high until the end of 2023. As a result, the USD has reversed its trend and increased in value across the board. Speculators are concerned that gold prices will decline, forcing them to sell and recover their capital.
Comment:
good luck everyone
