Fed Decision Today: Can Gold Reclaim $4,400 After Its Sharp Reversal?
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The price of gold rose above 4,300 dollars (about 3,660 euros) per ounce today, after yesterday's decline, primarily because the weakening of oil prices eased inflationary pressures.
Gold price defies interest rate hikes, dollar strength and rising returns: The rapid recovery towards USD 4,300 shows that the first Fed shock in the market could already be largely absorbed.
Gold Price Reclaims $4,300 After a $125 Fed Whipsaw, but Futures Still Trail Settlement
Gold climbed back above $4,300 in Asian trading Thursday, but the recovery did not erase the damage from the Federal Reserve's rate increase. Front-month COMEX gold futures were $4,332.40 at 04:06 UTC, down $55.10, or 1.26%, from the previous $4,387.50 settlement, according to the delayed GC=F quote. The distinction between a rebound and a reversal…
Fed Decision Today: Can Gold Reclaim $4,400 After Its Sharp Reversal?
Gold has bounced back above $4,300 after its sharp reversal earlier this week, reaching $4,346.30 per ounce on Wednesday. The recovery comes just hours before the Federal Reserve announces its September decision. Markets assign a 93% chance of a 25-basis-point hike, leaving investors focused on what Fed Chair Kevin Warsh says next. Key Takeaways Spot […]
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