The market stays near record levels as the markets wait for the Federal Reserve meeting, which can affect future interest rate decisions.
Gold prices, which crossed the $ 3,000-utterance mark for the first time at the end of the previous week, continue to trade historically high. As soon as the week begins, the attention of the investor has shifted to the upcoming Federal Reserve meeting, which is expected to provide guidance at interest rates, according to Reuters.
Spot gold prices remain near record levels
As a CET at 1:45 am, the spot gold rose 0.5% to $ 2,997.84 (€ 2,753.09) per ounce. On Friday, March 14, the price of gold was briefly crossed $ 3,000 per ounce, which reached $ 3,004.86 before pulling back and closing at around $ 2,983 per ounce.
Analyst Ross Norman said, “Gold prices in the coming months will not be surprised to see $ 3,150 an ounce.” He said that when this level was estimated, the speed of growth was faster than expected.
Gold prices continue to support by Bhurajnial uncertainty, but recently market movements have also been affected by the unexpected trade policies of former US President Donald Trump. Over the weekend, American Treasury Secretary Scott Besant said that “there is no guarantee” the US economy would avoid a recession, further to meet the investors’ concerns about Trump’s impact of foreign trade policies.
Markets are waiting for federal reserve decision
The markets are now focused on the meeting of the Federal Reserve, which is expected to provide insight into the future path of interest rates. The Fed is widely estimated to be unchanged to announce on Wednesday, March 19.
(1 EUR = 1.0889 USD)
