Gold Stopped Its Decline in Anticipation of Support

Gold stopped its decline in anticipation of support. In the markets, the view that the FED's support will continue strengthened.

Despite the arguments of gold investors that inflationary pressures will increase after the inflation above expectations in the USA, the sharpest decline in six weeks has ended under the influence of the expectations that the FED will not start to increase interest rates earlier than expected. Gold, which lost 1 percent on Wednesday after the US inflation peaked for 13 years, showed a limited increase on the new trading day and exceeded $ 1,820. The announcement of inflation data raised inflationary concerns. In addition, the fact that non-farm employment data in the country were far weaker than expected strengthened expectations that monetary incentives would not be withdrawn early. In the light of these data, Australia & New Zealand Banking Group Ltd. stated that these risks will allow interest rates in the US to remain close to zero in the foreseeable future and will support demand below it.