Gold needs to wait for Fed decision
The Federal Open Market Committee (FOMC) March meeting is underway, and the Federal Reserve will announce its interest rate decision today. While the Fed is widely expected to keep interest rates steady on Wednesday, markets are awaiting comments from Fed Chairman Jerome Powell after the meeting for the Fed's latest rate expectations
Judging from the one-hour chart, the gold price has been fluctuating in the range of 2146-2163 US dollars from yesterday to today, and the amplitude of the fluctuation has gradually narrowed. The market is currently waiting for the Federal Reserve to release an interest rate decision. If rates are cut, gold will continue to rise. If current interest rates are maintained, prices will continue to fall. Conservatives can wait patiently for now.
Judging from the one-hour chart, the gold price has been fluctuating in the range of 2146-2163 US dollars from yesterday to today, and the amplitude of the fluctuation has gradually narrowed. The market is currently waiting for the Federal Reserve to release an interest rate decision. If rates are cut, gold will continue to rise. If current interest rates are maintained, prices will continue to fall. Conservatives can wait patiently for now.
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