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Low expectations for the Fed meeting: gold falls below $5,000
Gold has dropped below the psychological threshold of $5,000 per ounce, offering potential investors an excellent entry opportunity into the market. This downturn can be attributed to investors’ lack of confidence in an interest rate cut by the U.S. central bank. In fact, it is highly likely that the Federal Reserve will keep borrowing costs unchanged. Disruptions in the Strait of Hormuz also threaten persistent inflation, which could push central banks to maintain a more hawkish stance on monetary policy.
[Source: Borsa Italiana]
Gold price little changed ahead of tomorrow’s Fed decision
The safe-haven asset remains steady around the $5,000-per-ounce resistance level, awaiting tomorrow’s Federal Reserve meeting. Analysts do not expect any surprises regarding the interest rate decision, which is likely to remain unchanged. However, uncertainty persists over the war in Iran and the succession at the top of the Fed between Jerome Powell and Kevin Warsh, which is still pending approval by Congress.
Gold and silver open the week lower
Gold and silver prices declined in early trading at the start of the week, pressured by selling due to rising U.S. stock indexes. Gold for April delivery fell by $38.30 to $5,022.90. Silver for May delivery dropped by $1.98, settling at $79.375.
[Source: Kitco news]
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