Fed expectation in gold

Gold entered the new week flat after closing the sixth consecutive week with an increase. As in all asset classes, gold investors also turned their attention to the critical Fed interest rate decision to be announced on Wednesday. Gold entered the week flat after closing the sixth consecutive week with an increase, in which the Fed is expected to slow down its rate hikes. Spot gold is traded at $1,932 per ounce. Gram gold is finding buyers in the markets at TL 1,168. The precious metal had risen since early November due to the decline in the dollar and US bond yields, along with the less hawkish Fed expectations. Inflation indicators that the Fed follows slowed to their slowest annual pace in more than a year in January, helping to strengthen these expectations. Fed officials are expected to raise the policy rate by a quarter point at the end of the two-day meeting that will end on Wednesday. As Chinese markets reopen after the Lunar New Year holiday, investors will be following clues about how quickly the economy is recovering from the severe virus wave.