Gold price (XAU/USD) shows some resilience below the $1,900 mark during the Asian session on Wednesday, albeit struggles to register any meaningful re
covery from over a one-month low touched the previous day. A generally weaker risk tone lends some support to the safe-haven precious metal, though the prevalent strong bullish sentiment surrounding the US Dollar acts as a headwind. on Tuesday showed that the Conference Board's Consumer Confidence Index fell to a four-month low in September. This fueled concerns that the consumers are feeling the pressure from the persistent high inflation and rising interest rates.
The US Dollar climbs to a fresh 10-month peak and keeps a lid on any meaningful recovery for the metal. The rate-sensitive two-year US Treasury yield holds above the 5.0% threshold, or its highest level since 2006. are holding deep in the negative territory, the XAU/USD might then accelerate the slide towards testing the August monthly swing low, around the $1,885-1,884 region.Monetary policy in the US is shaped by the Federal Reserve . The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates.
The FOMC is attended by twelve Fed officials – the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis.In extreme situations, the Federal Reserve may resort to a policy named Quantitative Easing . QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system.
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