Worrying! The Gold Movement Is Like A Roller Coaster - Kakiforex.com - Financial Market Media No. 1 in the World Worrying! The Gold Movement Is Like A Roller Coaster Worrying! The Gold Movement Is Like A Roller Coaster

May 21, 2021

Worrying! The Gold Movement Is Like A Roller Coaster

 Gold prices stabilized after a volatile trading session during the New York session.


Gold trading, which initially showed a surge to a four -month high to touch $ 1,890 an ounce, declined again after the FOMC meeting minutes report was released.


Although the Federal Reserve (Fed) has repeatedly said that the central bank will not change its monetary policy, however, in reality there are some Fed officials willing to talk about it.



Although there was no direct statement on the reduction of bond purchases (tapering), some policymakers expressed their willingness to discuss plans to adjust the rate of asset purchases.


The statement came as a real shock to the market which assumes the central bank will continue to be dovish with its loose monetary policy based on speeches from previous policymakers.


This has pushed the monarch of the US dollar back up and the yield of 10 -year US bonds rose higher to a level of almost 1.7%.


Entering the European session, gold prices traded steady around $ 1,875 per ounce, up 0.3%. Gold futures were down slightly at $ 1,786 an ounce.