Gold Prices Rise Expecting Fed Rate Pause
London: 18 September 2023 (TraderMade): Gold is among the safe-haven precious metals. Usually, traders and investors turn to gold as the interest rates and inflation rise. As several central bank interest rate decisions are expected this week, gold prices picked up today.
The financial world awaits the Fed interest rate decision this Wednesday, the BoE interest rate decision this Thursday, and the BoJ interest rate decision this Friday.
Amid the risk of increasing interest rates in significant economies, gold continued its gain on Friday and started with a hike on Monday. One ounce of gold trades at about US$ 1927 by Monday morning.
As many central banks are about to announce their monetary policies, investors are naturally moving towards gold, increasing its demand and price. Similarly, European stocks started weak to make the sentiment favorable to gold.
Staying updated with the crucial financial events and the Live Gold CFD Price (https://tradermade.com/cfd-live-prices/XAUUSD) helps you make wise decisions.
