• About Us
  • Contact Us
  • Cookie policy (EU)
  • Home
  • Privacy Policy
  • Video
  • Write for us
Today Headline
  • HOME
  • NEWS
    • POLITICS
    • News for today
    • Borisov news
  • FINANCE
    • Business
    • Insurance
  • Video
  • TECHNOLOGY
  • ENTERPRISE
  • LIFESTYLE
    • TRAVEL
    • HEALTH
    • ENTERTAINMENT
  • AUTOMOTIVE
  • SPORTS
  • Travel and Tourism
  • HOME
  • NEWS
    • POLITICS
    • News for today
    • Borisov news
  • FINANCE
    • Business
    • Insurance
  • Video
  • TECHNOLOGY
  • ENTERPRISE
  • LIFESTYLE
    • TRAVEL
    • HEALTH
    • ENTERTAINMENT
  • AUTOMOTIVE
  • SPORTS
  • Travel and Tourism
No Result
View All Result
TodayHeadline
No Result
View All Result

Gold futures move higher as Fed meeting comes in focus

December 13, 2021
in Business
0
Gold futures move higher as Fed meeting comes in focus
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter


Gold prices moved higher Monday, sticking to a tight trading range ahead of the U.S. Federal Reserve’s gathering this week, which could solidify bullish or bearish momentum for the precious metals complex.

Gold is seeing some support but remains below $1,800 and “within the range it’s traded broadly within over the last few weeks,” said Crai Erlam, senior market analyst at Oanda.

“If it can break above $1,810, it may pick up some momentum to the upside but I struggle to see that ahead of the Fed decision on Wednesday,” he said in a market update. “Then it’s a question of what gold bulls will want to see from the meeting. No taper acceleration? Pushback against rate hikes? Transitory being brought out of retirement? I’m not sure we’ll see any of these.”

February gold 
GCG22,
+0.32%

GC00,
+0.32%
traded $2.80, or 0.2%, higher at $1,787.60 an ounce on Comex, after the most-active contract booked gains of less than 0.1% for the week on Friday.

Meanwhile, March silver
SIH22,
+0.70%

SI00,
+0.70%
was trading 15 cents, or 0.7%, higher at $22.345 an ounce, following a weekly drop around 1.3%.

Market participants are awaiting monetary-policy decisions from the Fed when its two-day policy meeting concludes Wednesday, where the central bank will offer its update on projections of interest rates and the pace of its reduction of COVID-era accommodations, which will impact trading in precious metals such as gold and silver. Updates on policy from the Bank of England, European Central Bank and Bank of Japan also are on deck later in the week.

The central-bank meetings scheduled to be held this week are likely to be big drivers for the precious metal, with “the Fed expected to tighten its monetary policy, which will likely mean that the American central bank will hike its policy rate sooner than initially expected as well,” said Naeem Aslam, chief market analyst at AvaTrade. “Thus, because gold is a non-interest-bearing asset, the opportunity cost of holding the precious metal will rise, making it less attractive to investors.”

On Friday, gold turned higher after the U.S. government reported that the rate of consumer inflation hit the highest level in nearly 40 years. Data on Friday revealed that the U.S. cost of living climbed in November and drove the rate of inflation to 6.8%, marking the highest annual rate since 1982.

The rise in inflation supported gold prices on Friday as “the yellow metal is considered to be a safe haven commodity, which investors use to hedge against inflation in times of uncertainty,” Aslam said in a Monday note.

Also on Comex, March copper
HGH22,
+0.03%
shed 0.1% to $4.282 a pound. January platinum
PLF22,
-0.88%
lost 0.8% to $926.70 an ounce and March palladium
PAH22,
-2.42%
traded at $1,732 an ounce, down 1%.

Tags: FedFocusFuturesGoldhighermeetingmove
Previous Post

Man United in talks with Premier League over Brentford postponement due to COVID-19 cases

Next Post

Scout the City Blogger Sai De Silva and Her Kids’ Holiday Wardrobe

Related Posts

Novavax slashes sales guidance in half, stock plunges 30%
Business

Novavax slashes sales guidance in half, stock plunges 30%

Novavax Inc. executives slashed their...

Read more
Valneva Stock: Vaccine Business, Catalysts Ahead, And Pfizer’s Lyme Love (NASDAQ:VALN)
Business

Valneva Stock: Vaccine Business, Catalysts Ahead, And Pfizer’s Lyme Love (NASDAQ:VALN)

VioletaStoimenovaThesis Valneva (NASDAQ:VALN) is a...

Read more
Out of the holiday loop? This is Money podcast summer travel special
Business

Out of the holiday loop? This is Money podcast summer travel special

We publish our podcast every...

Read more
Seeing into the future: six ways cutting-edge tech can help monitor sustainability | The whole picture
Business

Seeing into the future: six ways cutting-edge tech can help monitor sustainability | The whole picture

With all the talk about...

Read more
We’ve been married for 5 years. I pay two-thirds of my wife’s mortgage and spent $12,000 on repairs — but she says her daughter will inherit our home
Business

‘Something snapped inside him’: My contractor boyfriend of 2 years dumped me. He said I was using him to fix up my house.

I have been with my...

Read more
Load More
Next Post
Scout the City Blogger Sai De Silva and Her Kids’ Holiday Wardrobe

Scout the City Blogger Sai De Silva and Her Kids' Holiday Wardrobe

  • Trending
  • Comments
  • Latest
Epic Systems campus, a fantasyland of gardens and architecture, Part 1

Epic Systems campus, a fantasyland of gardens and architecture, Part 1

Redfall is making a 30 minute-long appearance at QuakeCon

Redfall is making a 30 minute-long appearance at QuakeCon

Green-roof prairie and fantasy gardens at Epic Systems, Part 2

Green-roof prairie and fantasy gardens at Epic Systems, Part 2

Six times actors really romped in sex scenes that make 365 DNI look tame

Six times actors really romped in sex scenes that make 365 DNI look tame

Logan Paul Could Be ‘WWE Champion’ in the Future, Says X-Pac

Logan Paul Could Be ‘WWE Champion’ in the Future, Says X-Pac

Novavax slashes sales guidance in half, stock plunges 30%

Novavax slashes sales guidance in half, stock plunges 30%

Alex Winwood boxing loss, referee, video, highlights, reaction

Alex Winwood boxing loss, referee, video, highlights, reaction

International Cat Day sparks memes online and we are not complaining

International Cat Day sparks memes online and we are not complaining

About Us

Todayheadline the independent news and topics discovery
A home-grown and independent news and topic aggregation . displays breaking news linking to news websites all around the world.

Follow Us

Latest News

Logan Paul Could Be ‘WWE Champion’ in the Future, Says X-Pac

Logan Paul Could Be ‘WWE Champion’ in the Future, Says X-Pac

Novavax slashes sales guidance in half, stock plunges 30%

Novavax slashes sales guidance in half, stock plunges 30%

Logan Paul Could Be ‘WWE Champion’ in the Future, Says X-Pac

Logan Paul Could Be ‘WWE Champion’ in the Future, Says X-Pac

Novavax slashes sales guidance in half, stock plunges 30%

Novavax slashes sales guidance in half, stock plunges 30%

Alex Winwood boxing loss, referee, video, highlights, reaction

Alex Winwood boxing loss, referee, video, highlights, reaction

  • Real Estate
  • Education
  • Parenting
  • Cooking
  • NFL Games On TV Today
  • Travel and Tourism
  • Home & Garden
  • Pets
  • Privacy & Policy
  • Contact
  • About

© 2021 All rights are reserved Todayheadline

No Result
View All Result
  • Real Estate
  • Education
  • Parenting
  • Cooking
  • NFL Games On TV Today
  • Travel and Tourism
  • Home & Garden
  • Pets
  • Privacy & Policy
  • Contact
  • About

© 2021 All rights are reserved Todayheadline

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist