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Gold prices decline ahead of the Fed meeting


十二月, 14 2021
watermark Economic news

Gold is falling in price on Tuesday in anticipation of the results of the meeting of the US Federal Reserve System. The regulator will start its meeting tonight, the final result of the meeting will be known only tomorrow. Market participants are waiting for comments on the rate of curtailment of asset purchases. The regulator is expected to announce the termination of bond purchases earlier than expected, which could lead to a faster rate hike.


Against the backdrop of these expectations, the gold rate during the day fell to $ 1,766.45 per troy ounce, later recovering to $ 1.773. The daily low for palladium was at $ 1.578.50, while silver fell to $ 21.677. Platinum declined to $ 903.70 an ounce.


Analysts note that the strong US dollar and the rise in real interest rates in the country with a decrease in inflation expectations, judging by the level of breakeven inflation, will keep gold below $ 1,800 per ounce.


Additional pressure on gold was exerted by the growth of US Treasury yields from the weekly minimum reached during the previous session.


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