Gold rises higher ahead of Fed press conference

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The gold price can continue its gains from yesterday and is also today again in the plus. The Fed FOMC meeting, which began yesterday, should provide information about the taper timeline today.

Gold prices are +0.22% at $1779.15 per ounce in Asia at 11:11 PM (GMT+7) tonight.

The silver price has gained 2.09% so far today and is currently at $23.03.

It will be exciting today whether Fed Chairman Jerome Powell announces a taper time frame or continues to provide the market with liquidity. Also, the worries that arise in China to the Evergrande crisis could have an impact on the decision. Evergrande investors and creditors could breathe a sigh of relief today as the company was able to find an agreement for the bond payment due.
The share of China Evergrande Group (EGRNY) is today with +46% in the plus.

The oil price continues to rise today. More than expected, the U.S. crude oil inventories fell last week.

Brent crude oil is up 1.41% at $75.74 per barrel.

WTI crude oil is up 1.46% at $71.80 per barrel.

U.S. crude oil inventories fell more than expected last week to 3.482 million barrels. Experts had predicted a drop of 2.440 million barrels.

Gasoline inventories, on the other hand, rose by 3.475 million barrels last week. The increase came as quite a surprise as analysts had predicted a fall of 1.067 million barrels. Thus, expectations were missed by a wide margin.

The uranium price is still holding just below the $50 mark at $49.75. After the rapid price increase in recent weeks, the uranium price is taking a breather at the moment. Nevertheless, the sentiment remains bullish. More and more countries see that there is no way around uranium for reliable clean energy at the moment. The UK sees with its strategy to put more on wind power at the moment many problems because the wind does not want to blow as planned. There is certainly a need for reliable power.

At the moment, 20% of electricity in the U.S. is generated from nuclear power. That means that 1 in 5 U.S. households gets clean reliable electricity.

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