World gold prices decreased this morning with spot gold down 9.7 USD/ounce to 1,919.8 USD/ounce. The cause was determined to be the reaction to the hawkish tone of US Federal Reserve (Fed) officials at the September monetary policy meeting and of the head of the world's most powerful central bank. Jerome Powell at the press conference that followed.
Besides, Milling-Stanley also said that, despite the Fed's drastic actions, core inflation (removing volatile food and energy prices) only dropped 1% from its peak. But! This is not yet a significant threat to gold's price increase because the Fed's mid-week decision is creating little new momentum for the USD.
Besides, Milling-Stanley also said that, despite the Fed's drastic actions, core inflation (removing volatile food and energy prices) only dropped 1% from its peak. But! This is not yet a significant threat to gold's price increase because the Fed's mid-week decision is creating little new momentum for the USD.
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good luck traders
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The DXY index (which measures the greenback's fluctuations against six major world currencies) traded at 105.4 points.
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