Gold prices are standing still and waiting for results from FED

20 באוג׳

After completing the new history, gold easily becomes a time-limited investor. Not only that, gold prices at such a high level are difficult to attract new buyers to the market, also causing this commodity to decrease in price.

Sharing the same opinion, Anuj Gupta - Head of Commodities and Currency at HDFC Securities - determined that the upward trend in gold prices is still there and the direction of the precious metal will depend on the main direction of the US Federal Reserve. (Fed).

He believes that the speech of Fed Chairman Jerome Powell at the upcoming Jackson Hole congress will find a clearer picture of the monetary policy presentation of the Bank of America.

Accordingly, if Mr. Powell shows concern about the balance between economic growth and deflation, this will strengthen the possibility of cutting interest rates. Conversely, if he is optimistic and does not offer a commitment instrument, the school may have to adjust its current expectations.