Gold is still around a stable level

2023년 9월 20일

Gold prices (XAU/USD) stabilized around $1,930 during Asian trading hours on Wednesday. Market participants prefer to wait on the sidelines before the Federal Reserve's (Fed) Interest Rate Decision and FOMC Press Conference. These events can cause volatility in the market

Meanwhile, a gauge of the US dollar's value against six major currencies remained unchanged near 105.10 after bouncing off a weekly low of 104.81. The yield on 10-year US Treasury bonds has hit a 16-year high, hovering at 4.365%, which could limit the decline in the US Dollar (USD).

The Federal Reserve (Fed) is set to announce its two-day monetary policy meeting on Wednesday and interest rates are widely expected to remain at 5.25% to 5.5%. According to CME Fedwatch Tool, the possibility of keeping interest rates unchanged at the September meeting is 99%. However, according to the CME FedWatch Tool, the likelihood of another rate hike decreased during the November and December meetings.

2023년 9월 20일

노트

Fed Chairman Jerome Powell's press conference will offer some hints about 'dot plotting' and inflation expectations. It is worth noting that rising interest rates increase the opportunity cost of investing in non-yielding assets, implying a negative outlook for precious metals.

Moving forward, gold traders will focus on the highly anticipated Fed interest rate decision on Wednesday at 18:00 GMT. This event could provide a clear direction for gold prices. This weekend, the BoE will announce its base interest rate on Thursday and the BoJ's monetary policy meeting is scheduled for Friday.

2023년 9월 22일

노트

The Fed's rate hike pause was expected, but the hawkish tone suggests interest rates will stay high until 2024. This revision caused significant impact in financial markets.

2023년 9월 23일

노트

Gold is doing very well, despite Mr. Powell's hawkish views. The risks that the economy will break down are rising and eventually bad news for the economy will boost safe-haven flows to gold.

2023년 9월 24일

노트

Kitco News' latest weekly Gold Survey finds market analysts divided between bullish and neutral, while retail investors expect a breakout to the upside or downside from the close trading range This.