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The Fed Hasn't Decided Yet, but Gold Is Already Punished
Yesterday, gold fell 2.2 percent and
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Yesterday, gold fell 2.2 percent and dropped below $4,300 per ounce after supply disruptions from the Middle East strengthened the odds of a series of Federal Reserve rate hikes this year. Benchmark crude futures exceeded $109 per barrel, intensifying inflation concerns ahead of this week's Fed decision. Treasury yields and the dollar index rose along with oil, and that became the main pressure on gold, since the metal yields no interest.The expectation that expensive energy will seep into core inflation
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Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2026
EUR
Summary
Sell
Urgency
1 day
Analytic
Maxim Magdalinin
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