Gold price summary 27-31 January

Happy Friday, merchants. Welcome to Weekly Market Wrap, where we look at these past five days to trade with a focus on market news, economic data and addresses that have had the greatest impact on gold prices and other major associated assets – and may continue to do so in the future.

Gold prices make an effort on Friday morning to keep the gains and integrate them above the record number of $ 2800/ounces at a volatile weekend of trading.

Regardless of how the yellow metal was circulating in the following days, Monday was an ugly moment to pricing gold as it was for many other major assets categories. The collapse led by the technology sector in two of the three main stock market indicators in the United States has shifted most of the financial media coverage of this day into a sea of ​​red. With traders and managers of governor all over the world to provide margin requirements, golden situations were the first opportunity to relief for many. The heavy liquidation of the golden situations of criticism was largely weight on the prices of the metal, as the bids were dropped from the opening line at $ 2765 to a weekly basin of $ 2730/ounces.

Despite the approximate start, and even with a generally acceptable assumption that FOMC will not make a consecutive reduction this week, there was no great concern that the Monday segment had started a whole week of ugly loss of gold. This is because the market is still expected to be the main engine for assessments in all assets – especially the US dollar and its treasury paper – it will be reactions to a continuous flow of advertisements and measures taken by the new American administration in its second week. It turned out that the estimate was correct, and allowed the consistent installation of the global economic uncertainty that the White House Trump for gold was bounced on Monday afternoon and then holds a fixed level at $ 2740 to Tuesday and Wednesday morning before FOMC.

FOMC has delivered it widely as expected, although the generally increasing tone spoke objectively, the committee’s decision was analyzed and indicated to cut through coups and merchants, and eventually revolves in the modest gold back wind. The Federal Reserve announced any change in policy prices, and the standing has become for the first time in three meetings. It is important, the committee’s statement highlighted a more pink view of the current labor market (removing what might be the pressure point to reduce it) and remove a note about achieving “progress” towards the purpose of inflation that the Federal Reserve was canceled (emphasizing stubbornness if not a risk of return, in Inflation pressure) 2025.

The story continues