1). Prior to that this year, it was reported that the Federal Reserve unanimously decided to maintain rates at the 4.25%-4.50 percentage range. It also retracted inflation language. This was thought was a sign that the Fed will keep rates higher for a longer period.
2). 2. US 10 year Treasury yield increases by one basis point higher to 4.549 percent and limits the growth of gold.
3). In light of the current situation that gold prices grew, they extended their losses, but they remained relatively steady in the midst of traders waiting for Fed Chairman Jerome Powell’s news conference.
4). 4. CME FedWatch Tool shows that investors are expecting fifty basis points ease through 2025. The first cut in the rate seen in June.
5). The report added that the economy was growing steadily, unemployment has decreased and employment market conditions are still strong. Furthermore, it said it was focusing on both aspects of the dual mission.
6). It was a unanimous decision by the Fed.
7). 7. US Dollar Index (DXY) is a measure of the value of the dollar against a basket of six currencies rises 0.12 percent, averaging 108.04 This is a negative for Bullion.
