Gold price hit a five-day high above the $2,400 figure amid an escalation of the Middle East conflict between Israel and Iran. An Israeli attack on Iran on Friday sent bullion toward its daily high of $2,417 a troy ounce as ebbs and flows flock to safety in the uncertainty of the outcome. However, the rally was short-lived as Tehran said it had no plans to retaliate.
XAU/USD trades at $2,394, registering gains of 0.70% after Golds seesawed $44.00 as traders digested Friday’s developments. Aside from this, the drop in US Treasury bond yields and the Greenback keeps the golden metal afloat. This is despite recent hawkish comments by Federal Reserve (Fed) officials, who have adopted a more neutral stance suggesting that the disinflationary process has stalled.
On Friday, Chicago Fed President Austan Goolsbee exited from its dovish stance and stated that the inflation progress had “stalled,” adding that “the Fed’s current restrictive policy is appropriate.” His words echoed comments made by Atlanta Fed’s Bostic and New York Fed’s Williams, who crossed the newswires on Thursday.
Bostic, one of the most hawkish members of the Federal Open Market Committee (FOMC), went beyond Goolsbee and Williams's comments, saying that the Fed wouldn’t reduce rates until the end of the year.
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.
