Gold price edges lowernear $2,155 in Monday’s early Asian session.
is likely to hold rates at its March meeting on Wednesday and will not rush to cut rates. Chinese policymakers emphasized the need for continued implementation of a proactive fiscal policy and enhancing the country's economic recovery. The Chinese February Retail Sales and Industrial Production will be due on Monday. Gold Price hovers around $2,155 during the early Asian trading hours on Monday.
will hold its interest rate at its March meeting on Wednesday, and there will be no rush to cut rates as Fed officials need more time to gain greater confidence to bring inflation down to the central bank target. It’s worth noting that the high for a longer rate could diminish the appeal of non-yielding metals and weigh on the gold price. The University of Michigan revealed on Friday that the Consumer Sentiment Index came in weaker than expected, dropping to 76.5 in March from 76.
interest rate decision and press conference will be in the spotlight on Wednesday. These events could give a clear direction to the gold price. XAU/USD Overview Today last price 2156.61 Today Daily Change 0.67 Today Daily Change % 0.03 Today daily open 2155.94 Trends Daily SMA20 2095.79 Daily SMA50 2053.6 Daily SMA100 2033.26 Daily SMA200 1978.66 Levels Previous Daily High 2172.78 Previous Daily Low 2155.25 Previous Weekly High 2189.02 Previous Weekly Low 2150.69 Previous Monthly High 2065.