Gold, crypto money and stock markets are eagerly awaiting the decision to be announced by the US Federal Reserve (FED) at 22:00 today. Although no change is expected in terms of interest rates, Fed Chairman Jerome Powell’s statements may change the course of the market. So, what is expected in the markets? cryptocoin.com We convey the details as…
How could the Fed decision affect gold and cryptocurrencies?
Markets are focused on the Fed’s statements at 22:30 CET. It is stated that the interest rate will remain negative as the US thinks that the interest rate will be increased little by little. Before the decision, US stock markets were volatile. On the other hand, the US 10-year bond yields, which rose with the possibility of rate hikes, declined. Expectation of Fed’s decision put pressure on the most precious metal. An ounce of gold has been trading at $1,800 for a while. However, according to analysts, the possibility of the Fed’s rate hike has already priced in the market, so if there is a pullback, it is thought that it will not be too harsh.
Some experts pointed out that there is no possibility of an interest rate hike at the Fed’s meeting today and that March is expected for this. However, it is stated that the sharp fall in the price of Bitcoin may have increased the demand for ounces of gold. The critical level is $1,800. On the other hand, Heraus Precious Metals thinks that the real return will be below zero after interest rate hikes, as they expect interest rate hikes to increase slowly, which may support gold prices.
Finally, Gold and Money Markets Specialist İslam Memiş also conveyed his expectations for the Fed meeting and stated that he thinks the gold position will be taken after this meeting. Memiş states that long-term positions must be maintained throughout 2022. He thinks that ounces of gold can rise to 1,960-2,000, and grams of gold to 1,450 pounds.
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