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Gold Price and Oil Price: Gold Price: Pending Fed Decision Tomorrow | news

by Jrg Bernhard

An interest rate increase of 50 basis points is expected. The FedWatch tool from futures broker CME Group currently shows a nearly 100 percent chance that such a rate hike will take place. Yesterday, Monday, for the first time since December 2018, the yield on 10-year US government bonds “scratched” three percent. Furthermore, the dollar index has risen to its highest level in the last 20 years. All of this is currently slowing the gold currency crisis. The second half of the week is likely to remain exciting due to the upcoming data flow from the US job market. In particular, the U.S. Department of Labor’s monthly report (Friday) is likely to attract more attention.

On Tuesday morning, the price of gold presented with held prices. At around 8:10 am (CEST), the most actively traded gold futures (June) fell 2.60 to $ 1,861.00 per troy ounce.

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Rohl: The sixth package of sanctions creates high tension

The possibility of an impending EU embargo on Russian oil has so far not triggered any significant recovery in oil prices. Germany also now supports this step as part of the sixth sanctions package against Russia. The weekly report from the American Petroleum Institute, which will be released after the close of the US stock market and which could have a significant impact on the performance of tomorrow’s trading day, is also attracting more attention. According to a Reuters survey of analysts, inventories are expected to decline by 1.2 million barrels.

On Tuesday morning, the price of oil presented itself with stable prices. Around 8:10 am ET, the closest WTI futures fell 0.01 to $ 105.16, while its Brent counterpart fell 0.02 to $ 107.56.

Financeen.net editorial staff

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