Fed president comments on gold

Fed Central Washington DC: Another rate hike in December is considered safe. But what comes next? (Photo: Gold Reporter)

In a speech last Wednesday, Fed Chairman Jerome Powell alluded to a potentially flatter interest rate trajectory next year. Gold and silver attracted something.

Is the fourth US rate hike imminent or not? Three times already, the Fed has turned to screw interest rates this year. And another rate hike in December is actually price markets. After Fed Chairman Jerome Powell's speech yesterday, however, doubts have emerged – at least as the stringent continuation of the 2016 interest rate reversal began in the coming year .

In a presentation yesterday before the New York Economic Club, Powell said that interest rates were "just below" the so-called neutral range. Bloomberg sees in this statement an indication that the Fed could now move away from its current trajectory of steady and slow rate hikes. The US dollar is strongly weakened in the context of the speech. Precious metal prices have stabilized.

Interest rate path: Since 2016, the Fed has already raised eight times the US interest rate

This morning (9 am), the troy ounce of gold on the spot market was $ 1,227. This corresponds to 1,077 euros. The ounce of silver was exchanged at 14.38 dollars (12.60 euros).

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