Gold Shines Ahead of FOMC

September 25, 2018 Share Print 0

Gold is trading above the $1,200 price level at the start of the FOMC meeting in Washington.

The U.S. Federal Reserve is highly anticipated to announce a 25 basis points rate lift on Wednesday.

The move has already been priced in, but gold traders will be on the look out for insights on the economic projections and Chair Jerome Powell’s speech.

Gold has struggled as a safe haven under trade war concerns as investors have flocked to the safety of the US dollar, putting downward pressure on the yellow metal.

A neutral to dovish speech from Chair Powell could boost gold prices, specially if it comes from more mentions of trade turmoil risks.

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Bio
Twitter
Google+
Latest Posts

Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.