2023-10-29 01:00:00
Books – Islam Saeed Sunday, October 29, 2023 03:00 AM
The US Federal Reserve will meet next Wednesday to decide interest rates. Expectations have now exceeded 98% that the Federal Reserve will resort to stabilizing interest rates at their current rates of 5.25% and 5.50% within a period, but the bank may indicate that interest rates will continue at their high levels for a longer period of time, which is what is expected. That negatively affects gold.
Indicator Dollar The rise during the past week was able to rise by 0.4%, while the yield on US government bonds for 10 years decreased during the week by 1.6%, following recording the highest level in 16 years during the week at 5.021%.
It is worth noting that the Federal Reserve’s monetary policies have had less impact on gold since the beginning of the war in the Middle East, as geopolitical uncertainty and concerns related to US debt support demand for safe havens in the near term.
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