Tradeview Market’s head of analysis and development for Europe and the Middle East, Muhammad Sharqa, said gold markets are waiting for the inflation price announcement in the US to determine its course during the next period and to explore the United States Federal Reserve date to reduce monetary stimulus.
Sharqa added in an interview with Al-Arabiya, which investors are currently in pending the release of consumer price index data in the United States of America, where gold is trading for less than $ 1,800 an ounce.
Sharqa pointed out that gold prices are stable at current relatively high levels for two reasons: the first is the spread of the delta strain, and the second is high inflation.
He said expectations indicate that the Federal Reserve will begin reducing bond purchases starting in November rather than December, according to the inflation reading.
Charaka continued: “Reducing the stimulus is a matter of time and currently depends on the inflation reading … but high inflation can influence the Fed’s decision, so we are waiting for the data because it shows more direction of the market. “
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