The gold price has not stopped falling, and short selling contin
Updated
Gold lost 1945 again after falling for three consecutive days, and Powell's hawkish tone continued. At a meeting on Wednesday, Powell did not comment on monetary policy or the economic outlook. He was scheduled to speak at another meeting later in the day.
While markets interpreted his comments last week as less hawkish, Powell largely maintained his stance that U.S. interest rates will remain higher for longer and that more needs to be done to lower inflation.
Therefore, we remain bearish on gold and pay close attention to the news on the number of relief recipients in the United States released in 15 minutes.
While markets interpreted his comments last week as less hawkish, Powell largely maintained his stance that U.S. interest rates will remain higher for longer and that more needs to be done to lower inflation.
Therefore, we remain bearish on gold and pay close attention to the news on the number of relief recipients in the United States released in 15 minutes.
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