If the central bankers of the world are the “smart money » "... Gold prices are modestly up in early afternoon U.S. trading Wednesday, but down from daily highs, in the wake of the just-released FOMC statement that leaned a bit hawkish. There is still some safe-haven demand evident after the terrorist strike in Jordan that killed three U.S. soldiers. April gold was last up $7.40 at $2,059.00. March silver was last down $0.105 at $23.09.
The U.S. economic data point of the week saw the just-concluded Open Market Committee meeting of the Federal Reserve release a statement that left interest rates unchanged but said that any rate cuts will not come until the Fed is has “greater confidence” annual inflation is moving toward 2%. The statement also said the U.S. economy is expanding at a “solid” pace. Traders deemed the statement as leaning a bit hawkish, and now await the press conference from Fed Chairman Jerome Powell, set to begin shortly, as of this writing.If the central bankers of the world are really the “smart money” in the global marketplace, gold must be an asset for investors to own
https://www.kitco.com/news/article/2024-01-31/gold-firmer-loses-altitude-after-hawkish-fomc-statement