Gold prices calmed down on Friday. However, the harder stance of the US federal reserve officials on incentive reduction and increases in interest rates kept the gold, which was seen as inflation protection, on a third -week decline.
Gold prices are in a slight decline: What’s next?
Spot Gold fell to $ 1,767 after seeing the lowest level of a month on Thursday. Dear Metal suggests that a number of FED officials can accelerate the incentive reduction of the central bank. Kriptokoin.comAs we have reported, Fed President Jerome Powell said that the decision could be taken at the upcoming policy meeting.
IG Markets analyst Kyle Rodda said, iz We see that the FED is exhibiting a harsh monetary policy, and in particular, with the new variant, there is an environment where traders will probably buy dollars in any case. This is a negative environment for gold. ” The Omicron Coronavirus variant fired the fears about the speed of economic recovery and focused on risk sensitivity.
The focus of investors has now turned into a US non -agricultural salary employment report. “If there are signs that employment growth is strong and the wage growth is still recovering, it gives acceleration to calls that the Fed should increase its tapering speed by putting pressure on gold,” he said. “Monetary policy is faster tightening of monetary policy and the power of the dollar, gold, although the power of the dollar, the power of the dollar, it is likely to continue to rise to 2022, and it should support gold in this medium term,” said Sugandha Sachdeva.
