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KITCO - 'Original fear of missing out': Gold price explodes and could test $2k after best week in 3 years - analysts

Posted By: NaturalWisdom
Date: Friday, 17-Mar-2023 15:36:27
www.rumormill.news/219213

In Response To: Reader: FedNOW is the digital control system they have been salivating over (NightSky)

'Original fear of missing out': Gold price explodes and could test $2k after best week in 3 years - analysts
Anna Golubova
Kitco
Friday March 17, 2023

[snip]

Kitco News) The gold market surged as prices saw their best week in three years amidst the fallout of the banking sector. Analysts are not ruling out a test of the $2,000 an ounce level next week as markets look past the Federal Reserve monetary policy meeting scheduled for Wednesday.

The precious metal rose from $1,867 an ounce to above $1,980 this week, posting a gain of more than $110 and its best performance since March 2020. April Comex gold futures were last trading at $1,988 an ounce, up $65 on the day.

The biggest event markets were gearing up for all week - the Federal Reserve monetary policy meeting - is now on the periphery. Markets are pricing in a 25-basis-point hike for Wednesday, but investors are more focused on the potential pause and rate cuts that could follow.

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