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Federal Reserve Remains Hawkish: Gold Edges Lower
Gold prices are slightly lower in today’s trading session. The decline is being driven by the Federal Reserve’s hawkish stance, following its decision yesterday to leave interest rates unchanged. The U.S. dollar is posting modest gains, making the precious metal more expensive for foreign buyers.
Gold Holds Steady Ahead of Fed Meeting
Prices of the safe-haven asset remain stable as markets await the U.S. Federal Reserve’s monetary policy decision. Interest rates are expected to remain unchanged, but attention is particularly focused on the new Chair, Kevin Warsh. If his remarks suggest a hawkish stance, the safe-haven asset could enter a new corrective phase.
Gold continues to rise on the back of a preliminary US-Iran agreement
Another positive day for the safe-haven asset, which gains 0.6% thanks to the preliminary peace agreement between the United States and Iran. Concerns about a potential interest rate hike by the Federal Reserve ease, while investors await further developments
[Source: Market screener]
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