The price of Gold is trading just below $2,000. Commerzbank economists analyze the prospects for the yellow metal.
FOMC Minutes Unlikely to Leave Significant Signal on Gold
Now that concerns about the conflict in the Middle East have eased noticeably, the outlook for US interest rates has regained center stage for Gold. Against this backdrop, the minutes from the latest FOMC meeting, which will be released today, are likely to , are of interest.
The fact that for many FOMC members, another rate hike is not yet off the table could be reflected again in the minutes. That said, since the early November meeting there are increasing signs that the Fed has likely reached its interest rate ceiling. After all, in addition to the weakness of economic indicators, inflation also fell more than expected in October.
Therefore, any negative effect of the minutes on gold prices should be limited.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
