Gold Trades Steady as Markets Wait for FOMC - Forex News by FX Leaders
Gold Trades Steady as Markets Wait for FOMC

Gold Trades Steady as Markets Wait for FOMC

Posted Wednesday, January 29, 2020 by
Arslan Butt • 1 min read

Gold prices continue to trade steady as markets wait to hear from the Fed on its latest interest rate decision, scheduled to come out later today. At the time of writing, GOLD is trading at a little above $1,564.

Gold prices have had a bullish run lately over rising concerns about the potential economic impact of the coronavirus outbreak across China and other countries around the world. So far, there have been over 5,900 cases confirmed in China alone while the number of dead have increased to 132.

Gold is trading cautious ahead of the Fed policy decision as markets wait to gain information on how the US economy is likely to hold up in 2020. Meanwhile, a recent Reuters poll revealed that gold prices are expected to remain above the $1,500 level through 2020 and even see some modest gains next year over continued low interest rates and possible geopolitical tensions.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
Related Articles
Comments

Leave a Reply

avatar
  Subscribe  
Notify of