◽️ Gold fell last week but experienced buying pressure after the Federal Reserve meeting, but ended $ 15 lower than the price at the beginning of the week.
◽️ Among traders, short-term outlook of Gold has improved due the United States central bank’s anticipated monetary policy decision
◽️ A strong dollar and rising bond yields create a challenging downturn for gold but it seams we are in highest possible hawkishness of FED
◽️ Gold may stage a larger recovery over the coming days as the FOMC appears to be in no rush to wind down the balance sheet to pre-pandemic levels.
◽️ There are still some interesting releases that could move the markets. US core CPI, PPI and Initial Jobless Claims
◽️ slowdown in the US CPI may drag on bullion as major central banks step up their efforts to curb inflation
🔻 High US Treasury bond yields, led by the 10-year, keep gold prices pressured but we think gold’s downtrend should end soon.