The hawkish Fed narrative continues to underscore the need for further rate hikes garyswagner gold silver
The recent volatility that led to diminished bullish market sentiment for gold has diminished as gold continues to effectively find support at $2000 per ounce and above. Today gold traded to a low of $2002.20, effectively above the current critical support level of $2000. This morning in New York traders witnessed a quick and powerful price surge taking gold to a high of $2024.20. As of 4:00 PM EST gold futures basis the most active June 2023 contract is up $8.30, or 0.41%, and fixed at $2015.
Officials of the Federal Reserve continue to express a resolute narrative that is conveying that at least for the near future a pause of interest rate hikes is off the table. Rather, an additional Federal Reserve official today continues to reiterate the need for taking interest rates higher, which will include additional rate hikes, and keeping the elevated level intact for a longer period of time.
Now three Fed officials have expressed the need to continue to raise interest rates even after the anticipated ¼% rate hike occurs in May. Yesterday, the New York Federal Reserve President, John Williams spoke to a group of bond-market experts known as the Money Marketeers of New York University saying that recent data has indicated that a “trend of slowing inflation is continuing.” He also added that there are some indications of a “gradual cooling in the demand for labor”.
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.
Fed narrative alarms traders who believe that a rate pause is imminent after the May rate hikeExclusive to Kitco News, technical analyst Gary Wagner provides a daily recap of what happened in the gold market, highlighting important events that captured investors' attention during the U.S. trading session. Wagner's commentary features a mix of fundamental news and technical analysis, noting important support and resistance levels.
Read more »
Gold has found support above $2000 aided by the belief the Fed will pause hikes soonExclusive to Kitco News, technical analyst Gary Wagner provides a daily recap of what happened in the gold market, highlighting important events that captured investors' attention during the U.S. trading session. Wagner's commentary features a mix of fundamental news and technical analysis, noting important support and resistance levels.
Read more »
Ducks fed and happy at Cottonwood Island ParkAnother successful season of feeding the ducks has come to a close at Cottonwood Island Park for dedicated volunteers Brock Bailey and Paul Cailleaux.
Read more »
Sticky UK inflation raises fear that the Fed is not done yet, keeps gold downKitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
Read more »
The digital dollar has few benefits and serious risks - Fed Governor BowmanFed Governor Michelle Bowman spoke recently about the considerations for a U.S. CBDC, saying it offers few benefits and exposes some significant risks.
Read more »
West Vancouver man who fed bears in his backyard fined $5,000The man fed bears, including cubs, leftover food and crackers four times
Read more »