Gold Steadies After Fresh US Strikes in Iran Cloud Rate Outlook
Traders await Fed minutes as renewed US strikes on Iran raise fears of higher energy costs and inflation.
- Investors awaited the Federal Open Market Committee record today, while Gold prices hovered near $4,100 an ounce, reflecting renewed inflation concerns.
- Following fresh US-Iran strikes, tensions surged today as Washington launched strikes on Iran, revoking an oil-sale license after projectiles hit tankers in the Strait and Hormuz, complicating the Central-bank's inflation battle.
- The report revealed some Federal Reserve officials considered raising interest rates at the recent meeting, though Policymakers ultimately voted unanimously to maintain the target range between 3.5 per cent and 3.75 per cent.
- Data from CME FedWatch showed Markets increased bets for a rate hike to an over 63% chance, up from about 57% yesterday, as high interest rates continue to pressure non-yielding assets.
- Warsh has vowed to fight "too high" costs, indicating a hawkish stance for the coming year, while the World Gold Council reports more central banks than ever expect to increase reserves.
13 Articles
13 Articles
Gold, silver extend losses amid Middle East tensions; Fed minutes in focus
Gold and silver prices declined significantly in Mumbai trading on Wednesday. This retreat followed global bullion market weakness and US President Donald Trump's comments. Crude oil prices surged, stoking inflationary concerns and impacting investor sentiment. Analysts noted that rising inflation and a stronger US dollar reduced gold and silver's appeal. Investors now await US Federal Reserve meeting minutes for interest rate guidance.
Gold prices experienced significant fluctuations during Wednesday's trading session, amid escalating concerns related to inflation and rising US interest rates, coinciding with increasing geopolitical tensions in the Middle East following the recent US strikes on Iran.
Financial Post
MoneycontrolGold Steadies After Fresh US Strikes in Iran Cloud Rate Outlook
Gold traded in a narrow range as investors sought clues on the Federal Reserve’s outlook for interest rates, with renewed US airstrikes on Iran stoking concerns around a return to higher energy prices and inflation.
Gold Holds Drop as US Strikes in Iran Cloud Rate-Hike Outlook
Gold traded in a narrow range as investors sought clues on the Federal Reserve’s outlook for interest rates, with renewed US airstrikes on Iran stoking concerns around a return to higher energy prices and inflation.
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