Gold Declined After the Fed Decision

Gold fell after the Fed decision. At the Fed meeting, it was decided to leave the interest rates unchanged.

Gold declined after the Fed decision. Gold prices started to decline, with the US Federal Reserve (Fed) unchanged interest rates and Jerome Powell's statements on the market outlook. The Fed announced that its $ 120 billion monthly asset purchase program will continue until serious progress is observed in employment and inflation. Fed Chairman Jerome Powell said that it will take some time to change purchases, and that the central bank will not reduce its asset purchase program. President Powell drew attention to the optimism created by the wide range of vaccination opportunities and stated that many developments provide a much better outlook for 2021. Gold is losing more than 3 percent in January. Gold prices are having the worst January since 2011. Edwartd Moya, senior market analyst at Oanda, commented on the issue: “Investors have focused on the Fed's optimistic stance on vaccination, which predicts a strong recovery in the second half of the year. If prices manage to stay above $ 1,800 an ounce over the next few weeks, we can see a bullish scenario.”   Silver Falls Silver, which gained slight value on Tuesday, declined on Wednesday. With investors focusing on a more optimistic outlook following the Fed's decision, silver prices dropped 0.7 percent at 07:55 BST on Thursday, traded at $ 25.0993 an ounce.   Gram Price of Gold After the gram price of gold started the week with a decrease, it lost value with the decrease in the USD/TL exchange rate. This loss was recorded as the lowest level since July 28. Gram of gold watched a mixed course on Wednesday, then settled around 438.96 TL with 0.1 percent gain on Thursday.   Price of Ounce of Gold The fall in gold continues with the signals of a better-than-expected good outlook at the Fed meeting and the strengthening dollar. Accordingly, gold trades at $ 1,837.31 per ounce with a loss of 0.35 percent. The Bloomberg Dollar Spot Index is 0.2 percent positive.