Gold Prices Slip Further Amid a Resilient USD and Hawkish Federal Reserve Outlook

Gold prices extend their downward trajectory observed over recent days, slipping further beneath the $1,915 benchmark and marking a new low for the week.


The Federal Reserve’s hawkish stance reinforces expectations of further decline for the non-interest-bearing precious metal. Recent communications from the Fed highlighted concerns over persistent US inflation, hinting at potential additional interest rate increases this year. Interestingly, the current consensus among Fed policymakers anticipates only two rate reductions in 2024, in contrast to four originally projected.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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