logo |

News

    Home   >     Industry    >     Main body

    Price of Gold Fundamental Daily Forecast – Powell Comments, CPI Uncertainty Pressure Prices

    Abstract:Powell said recently that a coming upswing in inflation readings is likely to be transitory and wont cause the Fed to change monetary policy.

      Gold futures are trading lower late in the session on Monday as U.S. Treasury yields and the U.S. Dollar firmed ahead of Tuesdays U.S. consumer inflation report. Sellers are worried about a surprise jump in inflation that could send yields higher like the U.S producer inflation report did on Friday.

      At 19:09 GMT, June Comex gold futures re trading $1732.50, down $12.30 or -0.70%.

      Fed‘s Powell: US Economy at an ’Inflection Point‘ – CBS ’60 Minutes

      The U.S. economy is at an “inflection point” with expectations that growth and hiring will pick up speed in the months ahead, but also risks if a hasty reopening leads to a continued increase in coronavirus cases, Federal Reserve Chair Jerome Powell said.

      In an interview on the CBS news magazine “60 Minutes” that aired on Sunday night, Powell echoed both his recent optimism about the economy and a now-familiar warning that the COVID-19 pandemic had not yet been fully defeated.

      “There really are risks out there. And the principal one just is that we will reopen too quickly, people will too quickly return to their old practices, and well see another spike in cases,” Powell said in the interview, recorded on Wednesday.

      The impact of vaccinations should mean any coming spike in cases is not as severe and does not have the same disastrous effects on public health and the economy as prior surges. But Powell said the economic recovery will still “move ahead more quickly to the extent we keep the spread of COVID under control.”

      “Its going to be smart if people can continue to socially distance and wear masks.”

      Powell also drew a distinction between the Feds intent to let inflation run “moderately” above its 2% target, and anything faster than that.

      “We dont want inflation to go up materially above 2% and go back to…the bad, old inflation days,” of the 1970s, Powell said.

      Powell said as recently as Thursday that a coming upswing in inflation readings is likely to be transitory and wont cause the Fed to change its plans for monetary policy.

      Tuesdays Consumer Inflation Report

      Ahead of Tuesdays U.S. CPI report, traders are predicting a monthly rise of 0.5%, this is up from 0.4%. Core CPI is expected to come in at 0.2%, up from 0.1%.

      The pace of consumer inflation is likely to have returned to pre-pandemic levels in March, and it is expected to heat up even more in the next couple of months.

    Latest News

    New Zealand Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    New Zealand Dollar
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.