Attention Of Investors Turned To Fed Meeting

Attention Of Investors Turned To Fed Meeting Attention of investors turned to the Fed meeting. While gold prices started with a flat course in the new week, investors focused on the stimulus package and the Fed's last meeting this year. With the effect of the distribution of coronavirus vaccines in the United States and the continuation of the incentive package negotiations, gold prices started the new week with a horizontal trend. According to the statement made by General Gustave Perna, who runs Operation Warp Speed, the first delivery of the coronavirus vaccine developed by Pfizer and BioNTech will begin on Monday and will be delivered to 50 states by Wednesday. On the other hand, MPs from the two parties will announce a $ 908 billion stimulus package on Monday. However, it is not yet known whether the package will pass by the US Congress. Speaking on the subject, Oversea-Chinese Banking Group economist Howie Lee said, “Even if the vaccine is put into use, a new financial stimulus package is needed in the USA. In 2021, we expect exit from the US dollar and interest rates to remain low until 2023.” The decrease in the demand for the safe harbor along with the developments regarding the coronavirus vaccine points to the first quarter loss in gold prices since 2018. Gold investors, on the other hand, will follow the last Fed meeting of the year, which will be held this week, and expect new news about the bank's asset purchase program. Gold prices are trading at $ 1,835.59 an ounce, down 0.23 percent at 07:49 TSI. Silver saw little change, while the Bloomberg Dollar Spot Index lost 0.2 percent.