In this week’s precious metals market update, we delve into the latest developments affecting gold, silver, the US dollar index, and the broader US markets. The Federal Reserve has maintained its tightening stance, yet gold remains resilient, holding steady below the $2,000 per ounce mark. Following the recent monetary policy meeting, Chair Jerome Powell expressed uncertainty about future interest rate hikes, emphasizing the ongoing evaluation of policy restrictiveness to curb inflation. Powell’s comments caused a momentary dip in gold prices, only to see the precious metal swiftly recover, finding support above its 200-day moving average. Thanks for watching.
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