Gold prices are trading in a tight range during the Asian trading period and also during the early European session on Wednesday without a clear trend, reflecting a state of anticipation for the statements of the US Federal Reserve members during the current period, where yesterday members Meister and Harker spoke, and we are waiting for the speech of Collins, then Parkin and finally Bowman.
The markets are waiting for any signals about the timing of the start of easing the monetary policy of the US central bank.
Fed officials said on Tuesday that they could cut interest rates this year if the economy performs as well as expected, but it would be a mistake to cut interest rates prematurely, and warned that inflation-related challenges may require time before a decision to cut interest rates, confirming what Bank Chairman Jerome Powell said on Sunday.
It now seems that investors in the market are convinced that the Fed will keep interest rates high for a longer period in the wake of the still resilient US economy, and the focus will remain on the upcoming data by the US economy, the most important of these data are the US consumer inflation figures, which will be released next week.
