CryptossorCryptossor
  • Home
  • News
    • Global
    • Bitcoin
    • DeFi
    • Cryptocurrency
    • Economy
  • Technology
  • Contact
Facebook Twitter Instagram
Subscribe
CryptossorCryptossor
Twitter
  • Home
  • News
    1. Global
    2. Bitcoin
    3. DeFi
    4. Cryptocurrency
    5. Economy
    6. View All

    Investors Seek Refuge in Cash as Recession Fears Mount, BOFA Survey Reveals

    Mayıs 18, 2023

    Report: Well Known Crypto Firms Still Not Adhering to Basic Governance Standards

    Mayıs 18, 2023

    EU Council Adopts New Rules for Europe’s Crypto Markets

    Mayıs 18, 2023

    BRICS to Strengthen Economic Cooperation — Sherpa Calls for Increased Trade in National Currencies

    Mayıs 18, 2023

    Bitcoin Billionaire: This Platform Could Crash! But Like FTX..

    Ocak 11, 2023

    Tomorrow is Critical Day for Bitcoin: 5 Analysts Are Waiting For These!

    Ocak 11, 2023

    2 Important Charts Say ‘Buy’ This Cryptocurrency!

    Ocak 11, 2023

    Major Cryptocurrency Exchange Announces: Terminating!

    Ocak 11, 2023

    Defrost Finance Team Calls Rug Pull Claims Slander

    Aralık 30, 2022

    Arab Bank Switzerland Presents 10 DeFi Tokens to Customers

    Ocak 7, 2022

    Celsius Network Confirms They Lost Money In BadgerDAO DeFi Attack

    Aralık 3, 2021

    SEC Chairman Gary Gensler Speaks About DeFi

    Aralık 1, 2021

    Bitcoin Price Predictions for 2023 from the Professionals

    Ocak 11, 2023

    Why Is Bitcoin Price Rising? Will the Ascension Continue?

    Ocak 11, 2023

    Iceberg Capital Launches $1 Billion Fund with Venom Foundation

    Ocak 11, 2023

    What is Flare (FLR)? Flare Token Price and Comment

    Ocak 11, 2023

    The end of the road has appeared for the Plus model of the Samsung Galaxy S series! So what’s the reason?

    Ocak 11, 2023

    Mortgage applications increase in the USA, interest rates decrease

    Ocak 11, 2023

    The expectation for the future of the economy is getting worse: The rate of those who have negative expectations about the economy has increased from 50 percent to 71 percent.

    Ocak 11, 2023

    Economists hope lifting of China’s COVID bans will boost 2023 growth better than expected

    Ocak 11, 2023

    Investors Seek Refuge in Cash as Recession Fears Mount, BOFA Survey Reveals

    Mayıs 18, 2023

    Report: Well Known Crypto Firms Still Not Adhering to Basic Governance Standards

    Mayıs 18, 2023

    EU Council Adopts New Rules for Europe’s Crypto Markets

    Mayıs 18, 2023

    BRICS to Strengthen Economic Cooperation — Sherpa Calls for Increased Trade in National Currencies

    Mayıs 18, 2023
  • Technology
  • Contact
CryptossorCryptossor
Home»Cryptocurrency Exchange»What Will Happen in Gold in the 1st Quarter? “Focus on This Level”
Cryptocurrency Exchange

What Will Happen in Gold in the 1st Quarter? “Focus on This Level”

cryptossorBy cryptossorOcak 13, 2022Yorum yapılmamış4 Mins Read
Facebook Twitter Pinterest LinkedIn Reddit WhatsApp Email
Share
Facebook Twitter Pinterest Reddit WhatsApp Email

There is optimism in the gold space after Federal Reserve Chairman Jerome Powell’s candidacy statement triggered a price rally, according to Pepperstone. The key level to watch now is $1,830, and gold bulls are now hopeful about what the first quarter may bring for the precious metal, according to Chris Weston, Pepperstone’s head of research. Chris Weston’s evaluations and forecasts regarding the reflections of Fed Chairman Jerome Powell’s speech on the markets. Cryptocoin. com we have prepared for its readers.

“A reasonable drop in US real rates is a green light for gold bulls”

Gold climbed to new daily highs as Jerome Powell testified before the US Senate Committee on Banking, Housing and Urban Affairs. Comex gold futures for February were trading at $1,821.20, up 1.25% on the day. While Jerome Powell looks hawkish as before, he got a sense of how resilient the Fed has been as markets tightened forward monetary policy. Chris Weston, Pepperstone’s head of research, comments:

While Jerome Powell hasn’t really pushed prices back around anticipated Fed rate hikes, we’ve certainly seen some relief in the markets. When it comes to dealing with price pressures, it feels like it confirms the idea that the Fed is giving them maximum flexibility and optionality to deal with changing dynamics, while trying to dispel the belief that they are stuck on a certain path.

Commodities, especially gold and oil, received support from Jerome Powell’s comments as the US dollar index (DXY) fell, which was a major bullish sign for the yellow metal. “The dollar has been universally sold everywhere,” says Chris Weston, noting that this has increased commodity transactions, especially where crude oil has risen and has now seen its November high of $86, feeding a full cycle for petrocurrencies to solid movements.

A modest drop in US real rates during the weakness of the US dollar is often a green light for gold bulls and will push the yellow metal higher. Here we are watching the $1,830 surge.

Wednesday’s inflation data from the US would play a key role in determining what’s next for the US dollar, with the US consumer price index rising 7% year-on-year in December, in line with market consensus estimates. The gold market has had many false starts this winter, but Weston is seeing some positive signs this time around:

I’ve been really impressed with the yellow metal that has managed to top off the recent spike in bond yields, and that may be telling a story that gold bulls could have had a better time in Q1.

What was at the forefront of Fed Chairman Jerome Powell’s speech?

At the time of his testimony, Jerome Powell was optimistic about the US economy and employment, while promising to contain inflation. In this regard, the Fed Chairman said, “This year, we see an economy where the labor market is recovering rapidly and inflation is well above 2%. This tells us that the economy no longer needs or wants the highly cohesive policies we have implemented to deal with the pandemic. But there is a long road to normalcy,” he said.

However, Jerome Powell also warned that a recession is possible if the Fed is forced to tighten too much, adding that “If inflation becomes too persistent, this will lead to much tighter monetary policy, which could lead to a recession.” When talking about policy normalization, Jerome Powell stressed the importance of staying humble. “We will end asset purchases in March. We will raise interest rates. And at some point this year, we will start the second round of the balance sheet,” said the Fed Chairman and continued with the following statements:

The committee did not make any decision on the timing. We need to be humble about this. There are risks on both sides to growth and potentially inflation. We will have to pay attention to what is going on in the economy and be willing to adapt throughout the year.

Finally, Jerome Powell stated that shrinking the Fed’s balance sheet may be earlier and faster this time, while “This time we will have the ability to act sooner and a little faster. More clarity on this will come soon. We will discuss this at the January meeting,” he said.

Dollar Fed Gold President USA
Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email
Previous ArticleAnalysts: As Bitcoin Drops, This Will Be a Massive Year for Altcoin!
Next Article This Altcoin Is Snatching: Tens of Thousands Bought Today!
cryptossor
  • Website
  • Twitter

The most realistic News Of The Crypto [email protected] https://twitter.com/cryptossorcom

Related Posts

Bitcoin Price Predictions for 2023 from the Professionals

Ocak 11, 2023

Why Is Bitcoin Price Rising? Will the Ascension Continue?

Ocak 11, 2023

Crisis Oracle Saying ‘Time Bomb’: BTC, Forget DOGE! Get From This

Ocak 11, 2023

If You’re Looking For Altcoins That Will ‘Double The Price’ Check Out These 5!

Ocak 11, 2023

Here are the crude oil price forecasts for 2023-2024

Ocak 11, 2023

Global financial markets are cautiously optimistic; In Turkey, the needle has turned!

Ocak 11, 2023
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Subscribe to Updates

Get the latest sports news from SportsSite about soccer, football and tennis.

Advertisement
Our Picks
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss
Altcoin

Investors Seek Refuge in Cash as Recession Fears Mount, BOFA Survey Reveals

By cryptossorMayıs 18, 2023

Investors, plagued by mounting pessimism, have sought refuge in cash, according to a recent survey…

Report: Well Known Crypto Firms Still Not Adhering to Basic Governance Standards

Mayıs 18, 2023

EU Council Adopts New Rules for Europe’s Crypto Markets

Mayıs 18, 2023

BRICS to Strengthen Economic Cooperation — Sherpa Calls for Increased Trade in National Currencies

Mayıs 18, 2023

Subscribe to Updates

Get the latest creative news from SmartMag about art & design.

Facebook Twitter Pinterest

Type above and press Enter to search. Press Esc to cancel.