Fed's Interest Rate Decision Affects Gold Prices

Fed's Interest Rate Decision Affects Gold Prices The Fed's interest rate decision affects gold prices. In the Fed meeting held, a decision was made in line with the expectations that monetary expansion would continue and interest rates would not change. While this decision raised the price of the ounce gold, it accelerated the weakening in the US dollar. In the domestic markets, gram of gold started to be traded at 467 liras, quarter gold at 763 liras, and Republican gold at 3.132 liras at its opening Thursday. In the gold analysis prepared by Integral Yatırım Menkul, "Ounce of gold found support from the Fed. Ounce of gold is moving near the level of 1866 in the forex market this morning." statements took place. On the other hand, at the last Fed meeting of the year, a decision was made in line with the expectations. The decision that monetary expansion will continue and interest rates will not change within the scope of this meeting, caused the ounce of gold to rise. Monetary expansion statements supported the continued depreciation of the US dollar. The dollar index dropped below the 90 level in trading this morning. Ounce of gold strengthened against the weak dollar. On the other hand, the stimulus package expectations spoken in the USA and the optimistic atmosphere regarding the coronavirus vaccine kept the rise under pressure for the ounce of gold. In addition, weekly unemployment applications to be announced by the USA will be closely monitored today. Apart from the applications, the news flow for the coronavirus vaccine and incentive package will also be monitored.   In the statement made by Gedik Forex on the subject, the following statements were made: Last night, the Fed held its last meeting of the year. Interest rates were not changed in line with expectations. Powell added that they will continue to support the economy. He stated that vaccination had begun, but the first effect is expected in the first quarter of next year and the strengthening in the economy is expected in the second quarter. He also stated that the course of the virus has the risk of changing the economic outlook. The perception that the incentive package is approaching the end was given to the markets. In short, this limited positive view for gold is causing the gold to run flat this morning. Secondary data from the US will be released today. The impact of the data may be limited on gold. Supports $ 1865 - $ 1861 and $ 1857 for ounce gold, resistors $ 1870 - $ 1873 - $ 1875. "