Gold price (XAU/USD) faced a nominal sell-off after registering a fresh two-month high as investors shifted focus to the speech from Federal Reserve (
Gold price looks for guidance on interest rates from Fed Chair Jerome Powell. The demand for safe-haven assets remains upbeat due to Middle East tensions. US Biden shows support for Israel in the war against Hamas. Fed) Chair Jerome Powell, which is likely to give clues about the interest rate outlook for the remainder of 2023.
On Wednesday, Fed Governor Christopher Waller emphasized the need to analyze the economic data to understand whether higher interest rates are slowing inflation or the strong US economy continues to ramp up consumer prices. The US Dollar remains firm ahead of Powell’s speech as investors anticipate the Fed chair to advocate for keeping interest rates higher for longer. The Fed’s Beige Book released on Wednesday showed that economic activity remained almost unchanged in September.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD’s further upside hinges on Fed’s Jerome PowellGold price has entered a phase of bullish consolidation near $1,950, having reached an over two-month high at $1,963 on Wednesday. Gold buyers are bid
Read more »
Middle East Escalation Props up Gold, Oil Ahead of Fed SpeechesMiddle East Escalation Props up Gold, Oil Ahead of Fed Speeches
Read more »
U.S. allies in the Middle East try to stake out a middle groundThe Palestinian cause was fading in many Arab countries. The Israel-Hamas war has reignited it.
Read more »
Powell might be a bit more hawkish than his Fed colleagues on ThursdayThe Fed chairman may distance himself from the view that interest rates don’t need to rise further
Read more »
Fed Chair Powell to deliver key speech Thursday: Here's what to expectFederal Reserve Chair Jerome Powell is set to deliver what could be a key policy address Thursday.
Read more »
Fed Chair Powell to deliver key speech Thursday: Here's what to expectFederal Reserve Chair Jerome Powell is set to deliver what could be a key policy address Thursday.
Read more »