Gold prices rise with Fed meet, government shutdown in focus
, measured by real-time global trades in bullion and tracked closer than futures by some traders, rose $7.70, or 0.4% to $1,931.51 an ounce by 15:00 ET .Fed set to hold, but higher inflation to elicit hawkish outlooktwo-day meeting on WednesdayBut markets remain wary of the central bank’s outlook, given that recent increases in inflation and resilience in the U.S. economy give it more headroom to raise interest rates further.until at least mid-2024.
Rising interest rates push up the opportunity cost of investing in non-yielding assets, presenting a weak outlook for metal markets.
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