Gold Trading Tips Positional – Below 50210 Target Price 48200—47500, Gold MCX yesterday settled down by 0.18% at 50381 as a broader market sell-off driven by uncertainty over more U.S. fiscal stimulus pressured prices.

The U.S. Congress has for weeks remained deadlocked over the size and shape of a fifth coronavirus-response bill, on top of the approximately $3 trillion already enacted into law.

U.S. Dallas Federal Reserve President Robert Kaplan said he is “completely” on board with keeping interest rates at their current near-zero level even into 2023, but worries a vow to keep them there even longer risks excesses and imbalances in financial markets.

Last week the Fed promised not to raise rates until the economy reaches full employment and inflation is on track to moderately exceed the Fed’s 2% target. Kaplan, who dissented, said Monday he believes the economy will be on track for full employment and stable prices by late 2022 or into 2023.

“I’m a big believer if you make a commitment like this, you need to fulfill it, unless there’s an extraordinary reason why you can’t,” Kaplan told. The Federal Reserve kicked off its own effort to update community lending standards for banks.

The move by the central bank to solicit input on potential rule changes for the Community Reinvestment Act comes after other U.S. bank regulators already put forward separate rule updates.

Join Our WhatsApp

Join Our Telegram

Gold Trading Tips Positional – Below 50210 Target Price 48200—47500

Gold Trading Tips Positional