Gold Moves Slightly Ahead of Fed Rate Decision

The price of gold rose in Asia on Monday. Big decisions on the part of the Fed are expected this week, as the Fed will make a decision on interest rates on Thursday.

  • Gold futures were up 0.16% to $1,838.75 per ounce.
  • Silver price was down 0.67% at $24.19 an ounce.
  • The palladium contract was down 0.3%
  • The platinum contract was up 0.2%

Meanwhile, the yield on 10-year U.S. Treasury bonds rose to 1.77% on Monday.

The Fed will announce the FOMC statement and the interest rate decision on Thursday (Asia time). This will be followed by the FOMC press conference. The Fed is expected to tighten monetary policy faster than expected in order to curb persistently high inflation.

Investors are looking at important U.S. economic data this week. These include Markit’s manufacturing purchasing managers’ index for January, the Conference Board’s consumer confidence index for January, durable goods orders for December, and gross domestic product (GDP) Q4/21.

The Spot Market is Open

Monday, January 24, 2022

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
12.55
1,838.50
1,839.50
+2.90
0.16%
1,831.70
1,839.10
Silver
12.55
24.19
24.30
-0.07
-0.29%
24.11
24.41
Platinum
12.55
1,033.00
1,043.00
+5.00
0.49%
1,025.00
1,045.00
Palladium
12.55
2,050.00
2,200.00
+10.00
0.49%
2,026.00
2,212.00
Rhodium
06.00
15,650.00
17,650.00
0.00
0.00%
15,650.00
17,650.00

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