6 August
Gold is rising ahead of the Fed’s decision on the interest rate
According to Investing.com, today, on November 2, gold prices have increased due to the dollar’s stabilization ahead of the U.S. Federal Reserve (the Fed) meeting conclusion.
Many expect that at this meeting the Fed will raise interest rates by 0.75% again, but then slow down the pace of hikes. Regarding this, all the markets’ attention is focused on any statements, which may highlight a weakening of the central bank’s “hawkish” position.
However, strong U.S. economic data presented this week may indicate that the slowdown in the monetary policy tightening pace isn’t going to happen soon, because the Fed is most likely to have enough headroom to support the current strategy and raise interest rates further on. But this scenario is quite negative for such assets as gold.
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