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Gold - Fed holds the key
Ranges may hold until the meeting next week Gold has been struggling for direction for a couple of weeks now, which is surprising as it’s one of the few instruments that hasn’t seen significant volatility since the Omicron announcement. That may be because the outcome isn’t clear if the new variant does turn out to be as worrying as first feared. Central banks are in no position to just turn the taps on as they have in the past, they may even have no choice but to tighten monetary policy regardless or risk extreme levels of inflation that far exceeds their mandates. At best, they may slow the pace of tightening ... (full story)