Continued volatility in gold prices following the announcement of the Federal Reserve

- China wants to put its currency in competition with the dollar, which could be fatal for global gold prices

All eyes in the world market were on the speech of US Fed President Jeram Powell, but his speech did not show any concrete plan or concrete proposal. His speech has only been seen as a formality for the coming year.

President Jeram Powell said in his speech at the Fed meeting

(1) The pace of economic recovery has begun. (2) Inflation will be temporary, so there is no need to worry. (2) We will get maximum employment. (2) Inflation will be maintained at 5%. (2) Corona virus and its variants can cause financial hardship.

Such a vague revelation has not had a major impact on the gold market, except for the જે 150 billion a month that will be used to buy treasury bills and bonds. There was no clarity in his speech and no new information was found, so it seems that Jeram Powell is playing a political game and not an economic game ...

And the stock market has been high all the time. Also, there is no reason to increase the interest rate to zero.

The above statement has led to a new volatility in the price of gold and gold is starting to rise and fall. Over the weekend, gold was trading at ૭૯૨ 15-16 and silver at ૫ 0.08 to ૬ 2.08.

Also, President Joe Biden has hinted that Jeram Powell will be re-appointed for the next term (which has been leaked). The question is whether the Fed is political or pursuing economic policy. Inflation will bounce back very fast which could lead gold to rebound. Economically, it is likely that the economic downturn of the 19th century will be repeated, which will create a positive trend for gold.

George Soros said in his e-mail that the US has made a big mistake by investing heavily in China and this mistake will prove to be very costly and will play an important role in determining the direction of gold prices.

There has been no significant movement on gold prices globally since the Fed's statement. However, there were some movements in different countries on this issue.

China wants to put its currency in competition with the dollar, which could prove fatal to global gold prices. Gold prices fell as the dollar strengthened again and Treasury bill returns rebounded, putting pressure on gold prices. Oanda's senior market analyst said that the fluctuations in the stock market, coupled with inflation and any new changes in the Fed's monetary policy in December, could have a small impact on short-term gold prices, encouraging a downturn.

Kovid has once again raised his head in America. In the US, gold prices have been volatile since August, when jobs were reported at 9,000 instead of 50,000. Perhaps such volatility and strong dollar and higher Treasury bill returns could push gold prices to એક 15 an ounce at once. However, as the European Central Bank's announcement and other monetary pressures signaled a slowdown in their bond purchases, efforts to defuse the financial crisis by ignoring inflation in the fourth quarter of 2021 began to pick up. Continues and gold seems to hit between ૭૫૫ 15 and 120 an ounce.