Observing news today one can easily get disappointed. However, things are getting better.
Gold goes down as traders wait for prompts from Fed
On Wednesday, gold inched down in European trade because market players looked ahead to the result of the Fed’s policy meeting. They need the timing of the next American rate lift as well as prompts on how the US major financial institution intends to pare back its balance sheet.
Gold futures were worth $1,244.75 a troy ounce, sliding 0.6%. On Tuesday, the commodity ended lower, facing the first back-to-back sag for three weeks.
The US central bank is going to publish its post-meeting statement as market participants monitor any change in language that could hint more clearly to the timing of the next rate lift. Additionally, investors
Apart from that on the Comex, silver futures went down 20.5 cents or approximately 1.3% hitting $16.33 per troy ounce.
As for other precious commodities, platinum inched down 0.7% trading at $925.25. Meanwhile, palladium was nearly intact showing $857.15 an ounce.
XAU/USD reversed down from the $1,700 area and dropped to $1,586 on March 12.
Oil market crashed after OPEC+ didn’t agree on production cuts. What’s next? Let’s see what bank analysts have to say about this.
US Fed comes right on time with the crisis support program announcement. How does the stock market react?
We could gain from buying emerging-market currencies such as South African rand, Mexican peso and Brazilian real.
Here are the most important topics that will determine the dynamics of currencies, commodities and stocks on Thursday, April 9. N