- Gold price extends upside as Fed policymakers expect that higher bond yields could be substituted for further rate hikes.
- The release of FOMC minutes and PPI data are expected to trigger volatility.
- Fed’s Bostic sees current monetary policy as sufficiently restrictive and believes inflation will come down to 2% without triggering a recession.
Gold price (XAU/USD) extended its rally on Wednesday as Federal Reserve (Fed) policymakers continue favoring steady interest rates at the 5.25 to 5.50% range through year-end. The precious metal is also capitalizing on the deepening conflict between Israel and Hamas, which could extend beyond Gaza. Investors should be prepared for volatility in the Gold price ahead as Federal Open Market Committee (FOMC) minutes from the September meeting and Producer Price Index (PPI) data for the same month are due.
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