फेड पूर्वानुमान: मई के बाद से सबसे बड़ा साप्ताहिक लाभ पोस्ट करने के बाद सोना स्थिर रहा क्योंकि निवेशकों ने सख्त अमेरिकी मौद्रिक नीति और आर्थिक मंदी पर चिंताओं की संभावनाओं को तौला।
“There is no sign I can see of a broader slowdown in the economy…We are not trying to induce a recession,” Federal Reserve Chair Jerome Powell.
Gold Price (Yellow Metal) pulls back to $1,878, after rising to the highest levels since May 09, during Monday’s Asian session. The precious metal’s latest weakness could be linked to the US dollar’s broad gains ahead of this week’s Federal Reserve (Fed) monetary policy meeting, as well as the risk-off mood. Additionally, a short-term trend line resistance also challenges the bullion buyers.
Federal Reserve officials are reinforcing expectations they’ll raise interest rates by a half percentage-point next month, accelerating a hawkish pivot to curb the hottest inflation in four decades.
The Federal Reserve is getting ready to raise interest rates, the central bank said in its monetary policy update Wednesday. But it kept rates near zero for now. “With inflation well above 2% and a strong labor market, the Committee expects it will soon be appropriate to raise the target range for the federal funds rate,” the Fed statement read. The centralbank slashed rates to near zero in March 2020 when the pandemic took the US economy into a choke hold.
Evergrande Crisis: The cash crunch at Evergrande Group is a long-term issue for China but won’t trigger a contagion for India and the rest of Asia, according to James Sullivan.
Copper soared this week to an all-time high, continuing a sizzling rally that’s seen prices double in the past year.