On Wednesday, the XAU/USD rose to $2,440 and held its ground after the widely anticipated Federal Reserve (Fed) decision.
Fed Held rates steady at 5.25%-5.5% as expected. Markets await Powell's presser for further insights. The 2,5 and 10-year yields remain down, favoring the non-yielding yellow metal. On Wednesday, the XAU/USD rose to $2,440 and held its ground after the widely anticipated Fed eral Reserve decision. The US Fed eral Reserve has again decided to keep the policy rate unchanged at 5.25%-5.5%, marking the eighth consecutive meeting without a rate adjustment.
11% respectively with investors keenly anticipating Federal Reserve Chair Jerome Powell's press conference for further insights. Regarding the statement, there weren’t major language changes and the bank still considers that the inflation is somewhat elevated. There was no clear guidance regarding the September meeting whichcould be considered hawkish. As such the bank hints that it remains data-dependant.
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