The price of gold is still receiving support from the current world geopolitical tensions. The increasing tensions between Russia and Ukraine have caused a rise in demand for safe-haven assets, including gold. The recent news of a major dam and power plant blowing up in Ukraine, leading to flooding and fears of crop damage, has further fueled this demand.
All eyes are currently on the upcoming Federal Open Market Committee (FOMC) meeting of the US Federal Reserve (Fed), where interest rate management will be discussed. The Fed's "hawkish" monetary policy, which has seen 10 consecutive rate hikes reducing inflation but still above the Fed's target, has been a significant factor in the gold market.
In light of these factors, it is expected that the price of gold will see a slight increase in the near future.
All eyes are currently on the upcoming Federal Open Market Committee (FOMC) meeting of the US Federal Reserve (Fed), where interest rate management will be discussed. The Fed's "hawkish" monetary policy, which has seen 10 consecutive rate hikes reducing inflation but still above the Fed's target, has been a significant factor in the gold market.
In light of these factors, it is expected that the price of gold will see a slight increase in the near future.
