Results of FOMC July meeting: Ahead of the FOMC July meeting outcome, Gold October futures contracts at MCX were trading higher by Rs 358 or 0.36% at Rs 99,477/10 grams after settling positively in the previous trading session. However, in the last one week, the prices of yellow metal have fallen by Rs 1,861, from their all-time high levels.
FOMC
Gold prices fell to a one-week low in line with US Inflation data
Safe-haven gold prices may get some support from the slight decline in the US dollar (USD) along with the risk of further escalation of geopolitical tensions in the Middle East. Traders may also avoid placing aggressive bets ahead of the release of the FOMC meeting minutes on Wednesday. In addition, the US Consumer Price Index (CPI) and the US Producer Price Index (PPI) to be released on Thursday and Friday should provide fresh momentum to Yellow Metal.
Fed Meeting press conference quotes
Fed Meeting press conference: Federal Reserve Chairman Jerome Powell explains the decision to cut the policy rate, federal funds rate, by 50 basis points to the range of 4.75%-5% after the September meeting and responds to questions in the post-meeting press conference.
Fed Meeting Results: FOMC ने दरें स्थिर रखीं, पॉवेल ने कहा कि सितंबर में कटौती संभव है
🟢 Fed Meeting Results: यूएस फेडरल रिजर्व ने 31 जुलाई को दो दिवसीय फेडरल ओपन मार्केट कमेटी (FOMC) की बैठक के बाद ब्याज दर के अपने फैसले की घोषणा की, जिससे बेंचमार्क ब्याज दरें लगातार आठवीं बैठक के लिए 5.25 प्रतिशत – 5.50 प्रतिशत पर अपरिवर्तित रहीं, जो वॉल स्ट्रीट के अनुमानों के अनुरूप है।
Fed Expected to Keep Interest Rates Steady and Hint at Rate Cuts in September 2024
Federal Reserve officials this week may move closer to lowering interest rates from two-decade highs by signaling a possible rate cut in September, though they may stop short of giving details beyond that.
USD/INR अधिक बढ़ता है, FOMC मिनटों पर ध्यान केंद्रित करें
नए सिरे से अमेरिकी डॉलर (USD) की मांग के बीच बुधवार को भारतीय रुपया (INR) में गिरावट आई। घरेलू और विदेशी निवेशकों द्वारा भारतीय अर्थव्यवस्था में आशावादी दृष्टिकोण ने भारतीय इक्विटी के बाजार पूंजीकरण को बढ़ावा दिया है और हांगकांग के बाद दुनिया में पांचवां सबसे बड़ा बाजार बन गया है।
FOMC June Minutes Outlook: FOMC will release the minutes of the June policy meeting on Wednesday, July 6.
FOMC Outlook: The US Dollar Index (DXY), which tracks the greenback’s performance against a basket of six major currencies, surged above 106.00 and reached its highest level in nearly two decades on Tuesday. The widening policy divergence between the US Federal Reserve and other major central banks, especially the European Central Bank, continues to boost the dollar. Additionally, the currency capitalizes on safe-haven flows with investors growing increasingly worried about a global recession.