Gold, which managed to rise above $ 1,800 last week, could not maintain its rise and closed the week around $ 1,783. It entered this week at $1,783. The upcoming process is considered to be quite critical. Because many precious metals investors are locked into the results of the Fed monetary policy committee meeting, which will take place on November 2 and 3. So, which way can prices go as a result of the meeting? How can markets react?
Gold market focused on Fed: What will the meeting results result in?
The ounce of gold, which entered this week at horizontal levels, seems to be waiting for the results of the Fed’s meeting, which will take place tomorrow and the next day, to move on. The US Federal Reserve’s interest rate decision is expected to be announced on Wednesday at 21:00. According to experts, the US Federal Reserve will begin to reduce its asset purchases. cryptocoin.com As we have also reported, the US Federal Reserve said in its previous meetings that asset purchases may begin to be reduced this month.
It is thought that the dollar may strengthen as a result of the Fed’s decrease in asset purchases. Considering the inverse correlation between the dollar and gold, it is noted that gold may fall with the rise in the dollar. In addition to the price movements under ounce, the price of gram gold also decreased. While the price of gram gold was at 550 liras, it was exposed to a sales wave in the morning and declined to 546 liras.
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