Gold prices eased on Tuesday ahead of this week’s Federal Reserve policy meeting, on expectations that the U.S. central bank may soon be set to taper its bullion-friendly economic stimulus program.
The Fed begins its latest two-day policy meeting on Tuesday. Most economists polled by Reuters this week expect it to taper its huge bond-buying program in March, although the odds on a move this month or next have shortened after a run of upbeat data.
Expectations that the Fed will curtail its huge liquidity injection, which has driven gold prices higher in recent years by pressuring interest rates and fueling fears of inflation, have already pushed gold prices 25 percent lower this year.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015