FOMC news trading strategy on July 27
According to Reuters, gold prices rose on the back of a weaker dollar, while investors were waiting for fresh signals at the Fed's two-day meeting. The Fed meeting will begin on July 25 and end on July 26 (US time).
Specifically, the USD index dropped from a two-week low to 101.27 amid investors' high expectations for this week's three central bank policy meetings to provide a clear view. about future monetary policy prospects. Making the greenback the gold factor becomes more attractive to buyers of other currencies.
The precious metal is well positioned to raise records as the U.S. central bank moves closer to gains, said Steve Land, portfolio manager of Franklin Templeton's Franklin Gold and Precious Metals Fund. Finally interest. As investors' renewed demand, he added, is the key to bringing gold back to record highs above $2,000 an ounce.
Specifically, the USD index dropped from a two-week low to 101.27 amid investors' high expectations for this week's three central bank policy meetings to provide a clear view. about future monetary policy prospects. Making the greenback the gold factor becomes more attractive to buyers of other currencies.
The precious metal is well positioned to raise records as the U.S. central bank moves closer to gains, said Steve Land, portfolio manager of Franklin Templeton's Franklin Gold and Precious Metals Fund. Finally interest. As investors' renewed demand, he added, is the key to bringing gold back to record highs above $2,000 an ounce.
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