GOLD -USD recovers, gold faces many risks
The recovery of the USD - Index at the beginning of the week put pressure on precious metals. The high green dong will make gold attractive to silver buyers holding other foreign currencies.
One factor affecting the price of gold is its high new usage. According to experts, a catastrophic outbreak could force the US Federal Reserve (Fed) to maintain the tightening cycle for longer than expected and put pressure on gold.
For now, the focus is on the transition to the Fed's monetary policy meeting between these weeks. According to previous forecasts, the Fed will raise the main interest rate by 25 basis points at the meeting.
As usual, the market will be scrutinizing the statement of the Federal Open Market Committee (FOMC), the Fed's policy-defining planning body, and receiving comments from Fed Chairman Jerome Powell at the press conference that follows for clues about the Fed's monetary policy path in the final months.
One factor affecting the price of gold is its high new usage. According to experts, a catastrophic outbreak could force the US Federal Reserve (Fed) to maintain the tightening cycle for longer than expected and put pressure on gold.
For now, the focus is on the transition to the Fed's monetary policy meeting between these weeks. According to previous forecasts, the Fed will raise the main interest rate by 25 basis points at the meeting.
As usual, the market will be scrutinizing the statement of the Federal Open Market Committee (FOMC), the Fed's policy-defining planning body, and receiving comments from Fed Chairman Jerome Powell at the press conference that follows for clues about the Fed's monetary policy path in the final months.
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