XAU plunged as USD increased sharply
XAU price dropped sharply in this morning's trading session as the USD increased thanks to the policies of the US Federal Reserve (FED).
According to the newly published minutes of the FED's meeting, although the US Central Bank's monetary policy has become a secondary factor in the gold market, persistent inflation may force the FED to raise interest rates once. more and create some selling pressure on precious metals.
This view goes completely against recent statements by members of the US Monetary Policy Committee that although they are not ready to cut interest rates because inflation is still high, they will not raise interest rates.
Recently, gold has been greatly affected by the FED's "hawkish" policy stance. However, despite the fluctuations, gold is still considered an effective investment asset thanks to its role in preventing inflation and diversifying investment portfolios.
According to the newly published minutes of the FED's meeting, although the US Central Bank's monetary policy has become a secondary factor in the gold market, persistent inflation may force the FED to raise interest rates once. more and create some selling pressure on precious metals.
This view goes completely against recent statements by members of the US Monetary Policy Committee that although they are not ready to cut interest rates because inflation is still high, they will not raise interest rates.
Recently, gold has been greatly affected by the FED's "hawkish" policy stance. However, despite the fluctuations, gold is still considered an effective investment asset thanks to its role in preventing inflation and diversifying investment portfolios.
Comment:
runnning + 40 pips
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