gold silver FOMC Gold price a bit weaker as FOMC meeting looms
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Risk aversion remains elevated among traders and investors early this week. Marketplace focus is on the Federal Reserve’s FOMC meeting that begins Tuesday morning and ends Wednesday afternoon with a statement and press conference from Fed Chairman Jerome Powell. The FOMC is expected to remain aggressively hawkish and raise the key U.S. Fed funds rate by 0.75% in the Fed’s effort to tamp down problematic price inflation. Sweden’s central bank today raised its key interest rate by a full 1.0%.
The key outside markets today see Nymex crude oil prices slightly up and trading around $84.00 a barrel. The U.S. dollar index is slightly firmer in early U.S. trading. The yield on the 10-year U.S. Treasury note is fetching 3.535%. The 2-year U.S. Treasury note yield climbed to 3.979%.
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