Gold price (XAU/USD) continues to attract bids ahead of the Federal Reserve (Fed) interest rate decision, which will be announced on Wednesday. The yellow metal extended its three-day winning spell on Tuesday as the Fed is expected to maintain the status quo on the grounds of falling inflation and an upbeat economic outlook.
Investors remain curious about the guidance on interest rates as a hawkish outlook would trigger a risk-aversion theme. Markets are pricing in that the Fed is done with hiking rates until year-end, and hopes for the US economy shifting on a “golden path” are high. The only factor that could keep expectations of one more interest rate increase is rising energy prices, which may contribute to inflation and further squeeze households’ real incomes.
Gold price resumes its three-day winning spell as the Fed is expected to keep the monetary policy unchanged on Wednesday. The precious metal is at a two-week high at around $1,935.00 after discovering buying interest near the 200-day Exponential Moving Average (EMA), which trades at around $1,910.00. The yellow metal has climbed above the 20-day and 50-day EMAs, which indicates that the short-term trend has turned bullish.
prices are back on the rise as a global supply shortfall is becoming more evident and the International Energy Agency (IEA) is once again claiming that the web can be okay if we just stop investing in fossil fuels. Of course, the IEA’s past predictions of supply and demand have been way off and ...
In the face of prolonged strikes, some smaller suppliers are cutting workers or announcing plans to do so.
Martyn Beauchamp is set to be named interim chief executive of the Financial Services Compensation Scheme
U.S. stocks opened higher Wednesday, finding supprort as Treasury yields pulled back and the Dow Jones Industrial Average attempted to recover from its worst one-day percentage loss since March. The Dow DJIA, -0.07% was up 47 points, or 0.1%, at 33,666. The S&P 500 SPX, +0.10% rose 0.4%, while...
JPMorgan Chase & Co. JPM, +0.43% said Wednesday it won a competitive process to provide account validation services for the U.S. Treasury Department under a financial agency agreement for a minimum of five years. Terms of the deal were not disclosed in a statement by the bank. The U.S. Treasury...
Technical signals suggesting the market is oversold aren't enough to confidently buy the dip, according to Canaccord Genuity.
Sixteen years ago, Madeline-Michelle Carthen was preparing for a summer internship in Ghana after she was accepted into Webster University's intern exchange program when she received shocking news: her social security number was associated with a deceased person.
Since my last remain extremely volatile amid concerns over the supply and demand mismatch, but the overall tone has been bullish. In the 4-hour chart, the natural gas futures have found a strong base at $2.858 after consolidating at $2.676, as I predicted in my last analysis.
Ruben Vardanyan’s detention comes as Baku steps up hunt for leaders of the former breakaway state