Fed’s Hawkish Tone Pressures Gold Prices.

 

Talking points: GOLD, US Federal Reserve, Inflation, and Ukraine.

  • As markets analyzed the Federal Reserve Commentary, gold prices started to decline.
  • The rate increase was anticipated, but maybe less so the blatantly hawkish tone.
  • There are subtle hints that the metal may have endured enough pain for now.

On Thursday, gold prices were momentarily pushed to 29-month lows of $1,654/ounce as the US Dollar continued to gain from strong demand for haven assets.

Vladimir Putin’s unprecedented military buildup has kept Ukraine at the forefront of fundamental trade, drawing the expected scorn and hostility from the West and other countries. Although the three-quarter point increase in interest rates announced by the US Federal Reserve on Wednesday was generally predicted, the central bank’s concomitant prognosis may have been even more pessimistic. 

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