- Analytics
- News and Tools
- Market News
- Gold trades almost flat ahead of U.S. rate decision – near 3-month low
Gold trades almost flat ahead of U.S. rate decision – near 3-month low
Gold is trading little changed almost flat today after last weeks rebound from recent 3-month lows set on Wednesday last week. A broadly weaker greenback lends some support to bullion today. All eyes are now on the FED's upcoming two-day monetary policy meeting and the rate decision on Wednesday to see if the word "patient" will be dropped and if the U.S. economy has gained enough momentum. Investors hope that the minutes will provide further insight into when the Central Bank is going to hike rates that have been near zero since 2008. Yesterday's U.S. data came in weaker-than-expected leading investors to reconsider estimates on the timing of the FED's next move.
A stronger U.S. dollar and the prospect for higher U.S. rates recently weighed on the precious metal as gold is dollar-denominated and not yield-bearing.
Gold is currently quoted at USD1,153.70, -0,05% a troy ounce. On Thursday the 22nd of January gold reached a five-month high at USD1,307.40. On Wednesday last week gold traded as low as USD1,147.30, a three-month low.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
