Gold slumps to near $4,250 as Fed holds rates but flags potential hike this year
The trading week continues, and so far, gold is once again showing clear short-term weakness. During the session, the price i.
Gold price retreats as Fed holds rates, hawkish dots bite
Silver markets are also moving higher in today's trading session.
Gold price holds steady ahead of Kevin Warsh's first Fed meeting as traders await signals that could spark a breakout or renewed selling.
Gold markets continue to threaten the 200-day EMA on Wednesday morning, as we are still trying to figure out what the agreement between the United States and Iran will be.
The US dollar continues to retreat as geopolitical risks ease, and concerns about Kevin Warsh's dovish rhetoric subside. Donald Trump insists that the agreement with Iran is a done deal, which has pushed Brent below $80 a barrel and triggered a recovery rally in US stock indices.
Gold trades sideways as markets await Fed guidance, monitor US-Iran peace deal
Our previous outlook for the Precious Metal still stands. Gold managed to start to test the resistance zone of 4350-80 yesterday.
Gold: Fed repricing and Iran peace deal – UOB
Risks to gold's rebound remain evident ahead of Kevin Warsh's first FOMC meeting, as headline inflation remains elevated at 4.2% and the US Dollar Index (DXY) continues to hold above the key 99 level, reinforcing the bullish case for the US dollar.
On Wednesday, spot gold (XAUUSD) hovered near 4,342 USD per troy ounce, logging a solid gain of over 2% since the beginning of the trading week. The precious metal continues to find strong fundamental support as global market participants increasingly price in a potential landmark peace agreement between the United States and Iran.