Gold price strengthens as investors digest expected hawkish guidance from Fed – by Sagar_Dua24 Gold XAUUSD Fed GDP SEO
won’t be much formidable about sticky inflation. After the Fed’s policy decision on Wednesday, US GDP numbers for the second quarter are in the pipeline on Thursday, keeping investors on edge.Gold price comes out of an oscillation made around $1,960.00 ahead of the Federal Reserve’s monetary policy decision.
The Fed is not expected to discuss rate cuts for this year as its foremost priority is to bring down inflation to 2% steadily. In addition to the economy’s resilience, US Consumer Confidence came in at 117.0 in July, the highest level in two years, amid upbeat labor market conditions and easing price pressures.
After the Fed’s interest rate decision, investors are likely to shift their focus toward second-quarter Gross Domestic Product data and Durable Goods Orders for June, which will be released on Thursday at 12:30 GMT.
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