Gold remains at the back foot at the start of the week, after Friday’s 0.8% drop and a weekly close below $2500. The metal’s price was deflated by US labor data on Friday, as employment increased below expectations but unexpected drop in jobless rate cooled fears about stronger weakness in the labor sector, contributing to […]
The Federal Reserve Open Market Committee (FOMC) maintained the federal funds rate in the 4.25% to 4.50% range and announced it would continue its balance sheet runoff. The Fed justified its decision to hold rates steady by highlighting that the economy “continued to expand at a solid pace”, while inflation still remains “somewhat elevated”. On […]
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