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Gold stays above key $2,000 level focusing Fed Outlook

April,17(Agencies)—Gold continued to hold above the key $2,000 level on Monday, undeterred by the previous session’s correction, while investors assess the U.S. Federal Reserve’s interest rate hike trajectory.Spot gold was up 0.2% to $2,007.17 per ounce at 1055 GMT, while U.S. gold futures were 0.3% higher at $2,021.10.Friday’s price correction hasn’t affected the positive trend for gold, said Carlo Alberto De Casa, external analyst at Kinesis Money, adding that despite the profit-taking, the $1,980-$2,000 zone was promising support for the metal.Gold dropped 2% on Friday after the dollar bounced and Fed officials flagged the need for another interest rate hike.Fed Governor Christopher Waller and Atlanta Fed President Raphael Bos...

April 17, 2023 at 8:19 pm | Economic Affairs