Gold is up, but it’s set to fall this week as the impact of Fed policy continues on Investing.com
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Author: Gina Lee
Investing.com – Gold rose in Asia on Friday morning, but the movement remained small and the yellow metal went into its biggest weekly decline since November 2021. Investors continue to digest the final decision of the US Federal Reserve policy that carried many dollars. -high month.
They rose 0.26% to $ 1,797.70 at 22:53 ET (03:53 GMT). However, gold fell below $ 1,800 and fell about 2% this week, the worst fall since November 26.
which usually moves in the opposite direction to gold, fell on Friday, but has been nearing its highest level since July 2020.
The wave effects of the Fed’s hawkish turn on Wednesday continue. In anticipation of a rise in interest rates, the markets are now raising the Fed by five to six in 2022.
Investor sentiment also strengthened, showing better-than-expected 6.9% quarter-on-quarter growth in the fourth quarter of 2021.
Other central banks that will make their policy decisions next week,, and.
However, a Reuters poll warned that gold is expected to fall below 2022 and 2023 as central banks raise interest rates, raising bond yields and lower the attractiveness of unprofitable bullion.
On the supply side, Swiss customs data showed that in 2021 the country’s gold exports had risen to the highest since 2018. This was driven by demand from China and India, two of the largest consumer markets that are recovering from the impact of COVID-19.
In other precious metals, silver fell by 0.2%. Platinum rose 0.1% and palladium remained unchanged at $ 2,375.18.
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