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Back Fundamental analysis
The Fed Rate Stopped Squeezing Gold — but That's Not Enough for a Rally
Gold gained 0.3% today and trades
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Gold gained 0.3% today and trades around $4,154 an ounce, recouping a small part of its strongest weekly drop since June. A week earlier, the metal lost 3.4%. Silver rose 1.3% to $61.15 after falling more than 6% — its worst result since mid-July. Platinum and palladium also advanced.The main pressure on gold remains the policy rate. Gold pays no interest, so each Federal Reserve tightening raises its carrying cost. US payrolls increased by 29,000 in September, well below expectations.
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Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2026
EUR
Summary
Neutral
Urgency
1 day
Analytic
Maxim Magdalinin
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