XAUUSD - Gold continues to move down, which area should I buy in
World gold prices this morning were stable, spot gold decreased by 2.2 USD/ounce to 1,929.5 USD/ounce. Gold futures last traded at 1,967.1 USD/ounce, up 13.4 USD compared to yesterday morning.
True to market expectations, the US Federal Reserve (Fed) decided to keep interest rates unchanged in the range of 5.25% to 5.50% at the September monetary policy meeting. Gold prices have skyrocketed. the intraday high was $1,968.90 an ounce shortly after the policy meeting statement including the latest revised economic summary or dot plot was released.
According to the newly updated chart, the Fed expects another interest rate increase in 2023. Of these, 12 Fed members support another interest rate increase, 7 members oppose another interest rate increase. . In addition, the US Central Bank also said that next year it will carry out fewer interest rate cuts than previously expected.
However, as Fed Chairman Powell began his press conference, gold prices fell throughout the hour-long meeting. Mr. Jerome Powell said that the Fed is willing to keep interest rates at high levels longer than expected to bring inflation to 2% and that raising interest rates is still considered at the monetary policy meeting in November or December. . .
True to market expectations, the US Federal Reserve (Fed) decided to keep interest rates unchanged in the range of 5.25% to 5.50% at the September monetary policy meeting. Gold prices have skyrocketed. the intraday high was $1,968.90 an ounce shortly after the policy meeting statement including the latest revised economic summary or dot plot was released.
According to the newly updated chart, the Fed expects another interest rate increase in 2023. Of these, 12 Fed members support another interest rate increase, 7 members oppose another interest rate increase. . In addition, the US Central Bank also said that next year it will carry out fewer interest rate cuts than previously expected.
However, as Fed Chairman Powell began his press conference, gold prices fell throughout the hour-long meeting. Mr. Jerome Powell said that the Fed is willing to keep interest rates at high levels longer than expected to bring inflation to 2% and that raising interest rates is still considered at the monetary policy meeting in November or December. . .
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