Gold price today:Waiting for a new selling opportunity from FOMC
Hello everyone,
In today's trading session, gold has seen a slight increase. However, the looming threat of a "hot" inflation report from the Federal Reserve's FOMC meeting, starting this morning (June 12), could push gold prices down.
While demand from bargain hunters has boosted gold prices, the rise is capped by the strong U.S. dollar.
Recent positive economic news from the U.S. suggests that the Fed may continue its current monetary policy for longer. Additionally, with several major central banks already cutting interest rates and possibly making further cuts in the coming months, the dollar remains high and could climb even further, putting pressure on gold.
Stay tuned to see how the market evolves in the coming days!
In today's trading session, gold has seen a slight increase. However, the looming threat of a "hot" inflation report from the Federal Reserve's FOMC meeting, starting this morning (June 12), could push gold prices down.
While demand from bargain hunters has boosted gold prices, the rise is capped by the strong U.S. dollar.
Recent positive economic news from the U.S. suggests that the Fed may continue its current monetary policy for longer. Additionally, with several major central banks already cutting interest rates and possibly making further cuts in the coming months, the dollar remains high and could climb even further, putting pressure on gold.
Stay tuned to see how the market evolves in the coming days!
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