Gold is currently being supported by world geopolitical tensions, particularly the rising tensions between Russia and Ukraine. The recent news of a major dam and power plant in Ukraine exploding and causing flooding in the region has also sparked fears of crop damage, leading to a slight increase in demand for gold as a safe-haven asset.
All eyes are on the upcoming Federal Open Market Committee (FOMC) meeting of the US Federal Reserve (Fed) to see how they will manage interest rates. The Fed's monetary policy has been "hawkish" with ten consecutive rate hikes, which has effectively reduced inflation but still remains higher than the Fed's target.
As a result of these factors, it is expected that the price of gold will see a slight increase in the near future.
All eyes are on the upcoming Federal Open Market Committee (FOMC) meeting of the US Federal Reserve (Fed) to see how they will manage interest rates. The Fed's monetary policy has been "hawkish" with ten consecutive rate hikes, which has effectively reduced inflation but still remains higher than the Fed's target.
As a result of these factors, it is expected that the price of gold will see a slight increase in the near future.
