Start Trading Gold Now!
Gold declined for a third session in a row on Wednesday as the dollar gained some strength across the board after the minutes from the Federal Open Market Committee’s March 17-18 meeting suggested the U.S. central bank may not begin increasing interest rates by the middle of the year. “Several participants judged that the economic data and outlook were likely to warrant beginning normalization at the June meeting” according to records. The minutes also show that some officials thought “the normalization process could be initiated prior to seeing increases in core price inflation or wage inflation”.
Recent data indicate that the U.S. economy cooled in the first quarter but it appears people are confident that growth will pick up in the second quarter. The precious metal is also being hurt by the idea that the dollar will continue to strengthen as other major economies are easing. Gold prices has fallen
Article source: https://www.dailyforex.com/forex-technical-analysis/2015/04/gold-extends-losses-after-fomc-minutes/43457
SOURCE: Daily Forex Signals – Read entire story here.
