U.S. Federal Reserve...from Lee Tran

U.S. Federal Reserve Governor Christopher Waller echoed the sentiments of his European counterparts on Tuesday, saying that while U.S. inflation is approaching the central bank's 2% goal, the Fed should not rush to lower interest rates until lower inflation can clearly be sustained. Gold prices slid in reaction to Waller's hawkish remarks and in opposition to the strengthening dollar. Spot gold dropped 1.3% to $2,027.89 an ounce. 17.01.2024 CPI GBP

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Investor attention now turns to the US consumer and manufacturing inflation report due on January 11, with analysts forecasting price increases will slow in December 2023. The New York Fed survey on January 8 showed that consumers expect inflation to decline, with household income and spending to gradually increase in the coming years.

Lee Tran

Gold enter 2024 under pressure from the rising dollar, but remain stable thanks to expectations that the US Federal Reserve (Fed) will lower interest rates this year and growing concerns about attacks. involved in shipping activities in the Red Sea. At the end of the trading session on January 2, the spot gold contract stabilized at 2,061.59 USD/oz, after increasing by 0.8% at the beginning of the session. Gold futures contracts retreated 0.1% to 2,070.30 USD/oz.

Lee Tran