{"id":2353,"date":"2023-11-03T06:08:54","date_gmt":"2023-11-03T06:08:54","guid":{"rendered":"https:\/\/prendergast.net\/?p=2353"},"modified":"2023-11-03T06:08:54","modified_gmt":"2023-11-03T06:08:54","slug":"gold-price-news-gold-falls-for-third-day-ahead-of-fed-rate-decision","status":"publish","type":"post","link":"https:\/\/prendergast.net\/?p=2353","title":{"rendered":"Gold Price News: Gold Falls for Third Day Ahead of Fed Rate Decision"},"content":{"rendered":"
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Gold Price News: Gold Falls for Third Day Ahead of Fed Rate Decision<\/strong><\/span><\/h1>\n

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Gold is down for its third consecutive day with the precious metal now trading comfortably below $2,000 an ounce.<\/p>\n

While safe haven demand continues to be strong amid Israel’s ongoing attacks on Gaza, today also brings the latest Federal Reserve interest rate announcement that will provide a reminder of the “higher for longer” stance of central banks.<\/p>\n

gold kau price on kinesis exchange<\/p>\n

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Gold ($\/g) price – 3-month view – from Kinesis Exchange<\/p>\n

As a result, even though gold has dipped slightly from the highs achieved at the end of October, the price remains at a very high level historically with the recent movement more reflective of a slight correction rather than a broader downward trend.<\/p>\n

Today’s Fed rate decision is widely expected to see the US central bank keep its rate unchanged at 5.5% but while rates may not rise further, the prospect of any cut in the coming months looks remote. As such, gold will have to face this permanent headwind of high-interest rates, making the non-yield-bearing asset less attractive.<\/p>\n

While the peak of gold above $2,000 an ounce may have passed for now, the precious metal is unlikely to slide much further before fresh support rushes in.<\/p>\n

Time to Buy Gold and Silver<\/a><\/u><\/span><\/span><\/span><\/p>\n

<\/p>\n

Tim Moseley<\/p>\n","protected":false},"excerpt":{"rendered":"

Gold Price News: Gold Falls for Third Day Ahead of Fed Rate Decision Gold is down for its third consecutive day with the precious metal now trading comfortably below $2,000 an ounce. While safe haven demand continues to be strong amid Israel’s ongoing attacks on Gaza, today also brings the latest Federal Reserve interest rate … Continue reading Gold Price News: Gold Falls for Third Day Ahead of Fed Rate Decision<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[290,291],"_links":{"self":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/2353"}],"collection":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2353"}],"version-history":[{"count":0,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/2353\/revisions"}],"wp:attachment":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}