Oh no! GOLD Trading Is Increasingly Critical - Kakiforex.com - Financial Market Media No. 1 in the World Oh no! GOLD Trading Is Increasingly Critical Oh no! GOLD Trading Is Increasingly Critical

June 18, 2021

Oh no! GOLD Trading Is Increasingly Critical

 Gold prices rose slightly in the Asian session, but the gains displayed were unable to cover the biggest daily losses from the previous trading session.


The outcome of a very shocking FOMC meeting from the Federal Reserve (Fed) on Wednesday has rocked many markets, including equities, currencies and bonds.


The Fed has kept interest rates and its bond -buying program unchanged, as widely expected.



However, hawkish expectations from the Fed about the possibility of a faster -than -expected interest rate hike and optimistic projections for economic growth, gold prices continued to sink below the $ 1,800 per ounce level.


In the Asian session, spot gold traded higher at $ 1,785 per ounce, after touching a five -week low of $ 1,767 per ounce in the previous session. Gold futures traded positive at $ 1,786 an ounce.


Although 10 -year U.S. bond yields showed a decline, the yellow metal failed to rise higher due to the strong U.S. dollar.