Until When Will Gold Move Horizontally?

thecekodok

 Gold prices remained hovering around the same price as investors waited for more economic data to be published this week.


Among the most focused is certainly the FOMC meeting minutes report which will offer policy makers views on their monetary policy.


Markets now expect the Federal Reserve (Fed) to raise their benchmark rate above 5% by May with the highest rate seen at 5.3% in July.



This follows stronger-than-expected consumer and producer inflation data readings in January that strengthened the Fed's stance to continue raising rates to keep inflation down to the 2% target.


In addition to the minutes of the FOMC meeting, the core US personal consumption expenditure (PCE) data on Friday will also be the focus of investors.


During the Asian session, the yellow metal traded flat at $1,842 an ounce, while gold futures were little changed at $1,851 an ounce.

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