The pounding of the FOMC policy meeting that is increasingly felt made gold trading to be traded cautiously.
As the market headed into the opening of the European session, spot gold traded hovering around the price of $ 1,736 per ounce. Meanwhile, gold futures rose to $ 1,734 an ounce (2.30pm Malaysian time).
The 10 -year U.S. treasury yield is still showing consolidation around a one -year high of 1.63%. Nevertheless, in contrast to the gains exhibited in bond yields, the US dollar appears to be traded more cautiously.
Investors are seen cautiously waiting for a new catalyst from Federal Reserve (Fed) Chairman Jerome Powell’s follow-up statement after the policy decision early Thursday morning.
The last time Powell spoke publicly was at a Wall Street Journal webinar, where he said the increase in treasury revenue was not a concern for the central bank.
However, in this meeting, the Fed may remain or change their stance on the current bond market which will certainly affect the direction of market movements.
