Interest rates have been kept unchanged… so what about the speech by the U.S. Federal Reserve chair? And how much are gold prices now?
As expected, the U.S. Federal Reserve kept interest rates within the 3.75% to 4% range, by a 10-vote to 2-vote decision, with the two dissenting votes calling for a quarter-point rate hike.
As for the message from Fed Chair Kevin Worsh, it was clear: keeping rates unchanged does not mean the battle against inflation is over. The U.S. economy remains strong, inflation is still high, and the Fed wants to gather more data before taking its next step. Worsh did not commit to a specific decision for the next meeting, but he left the door open to another rate hike.
During the decision and the speech, gold saw strong volatility; it fell to $4,024, then rebounded quickly to $4,062, before currently trading near $4,050 an ounce.
The reason for this fluctuation is that holding rates steady supported gold, while Worsh’s hawkish tone and refusal to rule out another hike renewed pressure on prices.
Bottom line: the decision to hold rates was not the surprise; the most important message from Worsh was: we are waiting for more data, but the battle against inflation is not over, and monetary tightening is still on the table, which is negative for gold and silver prices ..
$BTC
$SOL
$PEPE
#ThailandSupremeCourtRulesBitcoinIsProperty
#RobinhoodFalls8.4%AfterItsResults
#KOSPISurges6.63%BackAbove6000
#DatavaultAICantWithdrawBitcoinFromBiconomy
#FOMCWatch
As expected, the U.S. Federal Reserve kept interest rates within the 3.75% to 4% range, by a 10-vote to 2-vote decision, with the two dissenting votes calling for a quarter-point rate hike.
As for the message from Fed Chair Kevin Worsh, it was clear: keeping rates unchanged does not mean the battle against inflation is over. The U.S. economy remains strong, inflation is still high, and the Fed wants to gather more data before taking its next step. Worsh did not commit to a specific decision for the next meeting, but he left the door open to another rate hike.
During the decision and the speech, gold saw strong volatility; it fell to $4,024, then rebounded quickly to $4,062, before currently trading near $4,050 an ounce.
The reason for this fluctuation is that holding rates steady supported gold, while Worsh’s hawkish tone and refusal to rule out another hike renewed pressure on prices.
Bottom line: the decision to hold rates was not the surprise; the most important message from Worsh was: we are waiting for more data, but the battle against inflation is not over, and monetary tightening is still on the table, which is negative for gold and silver prices ..
$BTC
$SOL
$PEPE
#ThailandSupremeCourtRulesBitcoinIsProperty
#RobinhoodFalls8.4%AfterItsResults
#KOSPISurges6.63%BackAbove6000
#DatavaultAICantWithdrawBitcoinFromBiconomy
#FOMCWatch
