Gold Prices Declined Following Fed Decision and Spot Gold Hit $4,030
Following the US Federal Reserve's interest rate decision, gold prices declined as investors evaluated the messages, with spot gold dropping to the level of $4,030 per ounce.
Following the interest rate decision by the US Federal Reserve (Fed), gold prices declined as investors evaluated monetary policy messages and awaited upcoming US economic data. As of 09:40, spot gold fell 0.9% to $4,030 per ounce.
Markets have turned their attention to the PCE price index, closely monitored by the Fed among inflation indicators, and growth data. Investors are tracking the Fed's interest rate decision alongside statements by Chair Kevin Warsh and US economic data to be released later in the day.
Developments in the Middle East and their potential impacts on inflation are also among the determining factors in the course of gold prices.
Sources
- bloomberght.com · Link