The index of the US dollar fell 0.3%, which makes gold more expensive for holders of other currencies. This fall occurred after US GDP data.
They observe the Fed meeting in search of clarity in the rates
The Federal Reserve is expected to maintain the rates without changes in Wednesday’s meeting, but the traders will be attentive to the economic projections already updated the speeches of the Fed officials in search of clues about the moment and the magnitude of possible cuts. The political pressure continues, since President Trump reiterated his call to the Fed to make monetary policy moreland, confirming, however, that Jerome Powell will continue as president of the Fed until 2026.
A favorable scenario for gold bulls
Gold continues to benefit from its role as coverage without performance in periods of inflationary risk and political uncertainty. Trump’s statements about active commercial conversations with several countries, including China, provide another element of support for the demand for shelter values that represents gold.
Goldman Sachs maintains a bullish perspective, pointing out that strong gold purchases by central banks, deceleration in solar production in China and the high risk of recession in the US. UU. They are factors that will probably cause gold to continue exceeding silver in the short term.
: Alcistas point to a bullish breakage above $ 3351.08 to reach $ 3500.20){kind=link}