Gold price stuck at daily lows as markets fear higher peak in rates gold Powell Fed
The gold market dropped 2% on the day as investors were spooked by the hawkish testimony from Federal Reserve Chair Jerome Powell, which revealed a higher rate peak than previously thought.
Analysts interpreted Powell's comments as very hawkish but noted that this kind of tone was largely anticipated. "Another upside surprise from inflation in next week's release would likely be enough to push the Fed back to a half percentage point hike later this month," said Bill Adams, chief economist at Comerica Bank."Financial markets are pricing in roughly 50-50 odds that the Fed raises its target rate to over 5.5% by the second half of this year."
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold SWOT: Gold set up for its best week since the middle of JanuaryCommentaries from industry expert Frank Holmes focusing on gold price movements, what's moving markets and what to expect in the metals sector. This includes his weekly Gold SWOT analysis, which is also featured in his own Kitco News show Gold Game Film
Read more »
Government of Canada approves Alamos Gold's Lynn Lake gold project in ManitobaA roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Read more »
Gold price a bit firmer as Powell, U.S. jobs report in focusSenior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
Read more »
Price pressure on gold, silver as Powell on deckSenior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
Read more »
Gold, silver tread water ahead of Powell, jobs dataSenior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
Read more »
Gold, silver punished by still-hawkish PowellSenior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
Read more »