Gold plunges further, as markets await Powell speech [Video]

Eliman Dambell Sayvio AI

The price of gold fell for a third consecutive session on Wednesday, as traders waited for comments from Fed Chair Powell.

Jerome Powell is expected to talk about the central bank’s recent decision to keep interest rates unchanged.

In addition to this, many are hoping for some economic forecasts, and insights as to when the next rate hike could come.

This comes as the U.S. economy remains resilient, despite the recent global slowdown in growth.

XAUUSD fell to a low of $1,948 earlier today.

Visit here to see raw, real-time ECN spreads

Author

Eliman Dambell

Sayvio AI

With over a decade in financial markets, Eliman brings an experienced and diversified point of view to market analysis. He covers current and historical macro trends to give insights on Metals, FX, Stocks, and Crypto.

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