AURORA_International

AURORA_International

Based only on Supply Demand analysis and Sentiment analysis

AURORA_International

The United States Federal Reserve or The Fed is preparing to start reducing stimulus assistance to the economy or tapering off after mid-November 2021. This was revealed in the minutes of the Fed's September meeting released last Wednesday.

AURORA_International

The increase in Gold Futures prices was limited by the strengthening of the US Dollar exchange rate. The US Dollar Index is up by 0.50% to 94.33.

AURORA_International

The US Dollar weakened in late trading Wednesday (3/11), after the Fed said it would start tapering off. The US Dollar Index, which measures the greenback against a basket of 6 Major Currencies, weakened after the Fed's statement, hit session lows before reversing some losses, and was down 0.045% at 94.068, still within reach of the 2021 highest point of 94.563 last month.