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Gold Price Latest - Clinging on toTrend Support as FOMC Looms Into View
The price of gold is moving higher ahead of the latest Fed monetary policy decision and commentary later in the day and is supported by a cluster of positive technical signals. Fed chair Jerome Powell’s comments post-decision will be key, especially after last month’s Jackson Hole Symposium where Powell made a noted shift in monetary policy by signalling that inflation would be allowed to run higher than the central bank’s 2% mandate to allow the economy to rebound further. US interest rates will likely be kept at current ultra-low levels for years to come, keeping downward pressure on the US dollar and ... (full story)