- The stronger US inflation figures released last week forced investors to trim their bets for an interest rate cut in June and remain supportive of elevated US Treasury bond yields, underpinning the US Dollar and capping the Gold price.
- The current market pricing indicates a less than 50% likelihood that the Fed will deliver its first interest-rate cut in June, and the central bank's 2024 median interest-rate projection could shift to two cuts from three cuts previously.
- The yield on the benchmark 10-year US government bond climbed to its highest level since November 30, pushing the USD to a two-week high and contributing to keeping a lid on any meaningful upside for the non-yielding yellow metal.
- Wall Street closed Tuesday's trading session on a high note Tuesday, with the S&P 500 rising to a fresh record high and holding back bulls from placing bets around the safe-haven commodity despite the ongoing geopolitical tensions.
- Traders, however, opt to wait for the outcome of the highly anticipated two-day FOMC monetary policy meeting for cues about the future rate-cut path before positioning for the next leg of a directional move for the XAU/USD.
- The US central bank is widely expected to keep rates at their historic highs, though the market focus will be on the "dot plot" for clues about the number and timing of rate cuts this year, which will influence the precious metal.
- Adding to this, Fed Chair Jerome Powell's comments during the post-meeting press conference might infuse some volatility in the financial markets and provide some meaningful impetus to the Gold price.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
이 글이 마음에 드시나요? 작성자에게 팁을 보내 감사의 마음을 전하세요.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.