Today's trading trends, buy gold strategy

24 мая

At the beginning of the trading session on May 23 (US time), world gold prices were under strong selling pressure due to tough sentiment in the minutes of the May monetary policy meeting just announced. The minutes show that US Federal Reserve (Fed) officials are increasingly concerned about inflation.

The gold market is being greatly affected by the Fed's policy stance on the length of time it takes to cut interest rates. Experts say that US inflation reports are still not as expected. Thereby, the timing of the Fed's interest rate cut is unclear.

Experts from the World Gold Council predict that despite the Fed's tough arguments on monetary policy in recent times, gold will still maintain its upward momentum in the coming time.

Wall Street analysts said that it will take the market longer than expected for the Fed to determine for sure whether inflation has really decreased or not. Therefore, gold will remain stuck in monetary policy for quite a long time.