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Gold price rises after Fed meeting: interest rates expected to fall in September
Gold price reacts positively to Fed meeting: rising prices after the probability of falling interest rates. Experts expect further increases.
Gold price rises after Fed meeting: interest rates expected to fall in September
Gold prices reacted positively to yesterday's Fed meeting as the prospect of lower interest rates pushed prices higher. CME Group's FedWatch tool shows a higher probability of lower interest rates in September. Investors are now looking forward to new information from the US labor market. A survey of analysts suggests a rise in weekly initial jobless claims. However, tomorrow's monthly report from the US Department of Labor is particularly awaited, as it is forecast to show a decline in the number of new jobs created.
Gold prices rose on Thursday morning. The most actively traded gold future rose to $2,322.80 an ounce by 7:30 a.m. Regarding crude oil, there was a rebound after three days of losses. The reasons for this were unexpected increases in inventories of crude oil and gasoline as well as the announcement by the USA that it would increase its strategic oil reserves. Additionally, geopolitical tensions in the Middle East have eased as Israel and Hamas hold talks.
Oil prices also recovered on Thursday morning. WTI futures rose to $79.46, while Brent rose to $83.94. These developments on the markets are significantly influenced by yesterday's events and forecasts.