Gold prices stall, ahead of FOMC minutes [Video]

Eliman Dambell Sayvio AI

Gold prices were mostly consolidating in today’s session, as markets prepared for the latest FOMC minutes report.

The Federal Open Market Committee will release minutes for its latest meeting, where the bank moved to hike rates by 25 basis points.

After initially announcing a disinflationary cycle, many now believe that the Fed will review its stance, and possibly increase rates for longer.

This comes as both retail sales and producer prices continue to climb, with inflation slowing by less than expected in January.

XAUUSD climbed to a high of $1,855.00 in today’s session.

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Author

Eliman Dambell

Sayvio AI

With over a decade in financial markets, Eliman brings an experienced and diversified point of view to market analysis. He covers current and historical macro trends to give insights on Metals, FX, Stocks, and Crypto.

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