Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

The price of gold stabilizes after falling the day before


February, 22 2023
watermark Economic news

On Wednesday morning, the price of gold is rising correctively after a decline a day earlier. The current quote of the precious metal is $1845 per ounce (yesterday's low was marked at $1839). 


One of the main events of the current week, which can have a further impact on the dynamics of the market, remains the policy of the US Federal Reserve System. The minutes of the February meeting of the regulator will be published this evening.


In the document, investors hope to find signals about the Fed's plans for the discount rate, including the timing of the possible end of a series of increases. About 76% of analysts expect an increase in the discount rate in March again by 25 basis points, to 4.75-5% per annum. 


On Thursday, important statistics are also expected – already on the GDP of the United States. Analysts predict the preservation of the original estimate, assuming growth of 2.9% in the last quarter in terms of the year (if GDP had grown at the same pace for four consecutive quarters).


As you know, the Fed's policy and macro statistics from the United States have a direct impact on the dollar exchange rate, to which gold is sensitive: the more expensive the dollar, the less precious metal is available for purchase in another currency.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.