(Kitco commentary) - Gold futures basis the most active December contract gained $11 in trading today when compared to yesterday’s close and is fixed at $1875.30.
Gold futures basis the most active December contract gained $11 in trading today when compared to yesterday’s close and is fixed at $1875.30. Gold opened at $1875.40 and closed in essence unchanged creating a doji candlestick.
Comments emanating from Federal Reserve members have been refreshingly dovish. Coming out of the Atlanta Federal Reserve President, Raphael Bostic's comments provided this sentiment as he spoke to the American Bankers Association today. He was asked his position as to whether the Federal Reserve should implement additional rate hikes this year and he commented, “I actually don't think we need to increase rates anymore.
Comments by Fed Gov. Christopher Waller who spoke at the National Press Club today addressed the Federal Reserve’s inflation target created in 2012 saying, “We have reaffirmed this numerical goal repeatedly since 2012, and, in tightening monetary policy since early last year, we’ve made clear that we’re determined to bring inflation down to 2%,” He added that this inflation level is “most consistent” with the central bank’s dual mandate of stable prices and maximum employment.
Government officials as well as Federal Reserve members are extremely cautious about any policy changes as the Israeli-Hamas war has magnified the global geopolitical uncertainty.
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