Gold futures closed higher yesterday (Dec. 13), up to $3.50, ahead of the Federal Reserve (Fed) monetary policy meeting that begins today.
Gold futures were up $3.50 to close at $1,788.30 per ounce.
The markets are turning their attention to the Fed’s monetary policy meeting on December 14 and 15.
Earlier, Fed Chairman Jerome Powell announced a sooner end to the quantitative easing (QE) bond-buying program. It is estimated that the QE limit could be cut by more than $15 billion per month, which will be discussed at that meeting including a faster rate hike.
Meanwhile, Goldman Sachs projected that the Fed may increase its QE limit to $30 billion per month, doubling it and raising interest rates in June 2022.
Investors expect the Fed to raise interest rates by 0.25% for the first time in May or June 2022. However, this is not enough to keep pace with inflation, as real interest rates are ultimately decisive for consumers. The key will be inflation figures for the next year.
The Spot Market is Open
Tuesday, December 14, 2021
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 10.00 | 1,787.00 1,788.00 | +0.10 0.01% | 1,785.10 1,790.30 |
| Silver 10.00 | 22.20 22.31 | -0.10 -0.47% | 22.17 22.42 |
| Platinum 10.00 | 925.00 935.00 | -2.00 -0.22% | 925.00 938.00 |
| Palladium 09.30 | 1,628.00 1,778.00 | +2.00 0.12% | 1,616.00 1,778.00 |
| Rhodium 06.00 | 12,800.00 14,800.00 | 0.00 0.00% | 12,800.00 14,800.00 |