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GOLD - Traded within a narrow range
Gold is supported as investors show lack of trust in the Federal Reserve's decisions, with the yield curve highlighting the threat of economic recession.
Wall Street analysts and retail investors are not confident in the gold market following the Federal Reserve's recent monetary policy decision to keep interest rates unchanged but signal the possibility of two more rate hikes later this year.
The USD Index, which measures the strength of the US dollar against a basket of currencies, increased by 0.15% to 102. Technically, gold continues to trade sideways within a narrow range and has not been able to break out.
Wall Street analysts and retail investors are not confident in the gold market following the Federal Reserve's recent monetary policy decision to keep interest rates unchanged but signal the possibility of two more rate hikes later this year.
The USD Index, which measures the strength of the US dollar against a basket of currencies, increased by 0.15% to 102. Technically, gold continues to trade sideways within a narrow range and has not been able to break out.
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