FED Influence Continues on the Investors’ Safe Harbor Gold Market
FED Influence on gold continues. After the Fed’s statements, which increased interest rates by half a point after the last meeting and signaled that it would continue these increases, gold continues to show a cautious movement.
With the statements from the Fed, the US Federal Reserve invited everyone, especially gold investors, to be cautious. It was stated that the ground created by the rising inflation, concerns about growth and the accumulated criticism about the Fed’s recent decisions may cause the 75 basis point increase to be brought to the agenda again, while it may pose a risk under such a situation.
It was noted that the next week’s agenda will include statements by Fed Chairman Jerome Powell, Charles Evans, Loretta Mester, Patrick Harker and James Bullard.
The FOMC, which took the decision to increase interest rates, increased by half a point in the last meeting and signaled that it could increase in the next few meetings in the same way. Still, some Fed officials point out that larger increases should not be ruled out entirely.
In the morning hours, in the light of the instant and live data coming from the free markets, the gram price of gold rose to 925 liras, while the ounce price of gold was recorded as 1,821 dollars on the second day of the week on Tuesday, May 17.