Gold Price Outlook Mired by Failure to Test March High
2021-03-15 14:30:00
David Song,
Strategist
Gold Price Talking Points
The price of gold snaps the series of higher highs and lows from the March low ($1677) as the US 10-Year Treasury yield climbs to a fresh yearly high (1.64%), and it remains to be seen if the Federal Reserve’s March meeting will influence the near-term outlook for bullion as the central bank is slated update the Summary of Economic Projections (SEP).
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Gold Price Outlook Mired by Failure to Test March High
The recent rebound in the price of gold appears to be losing steam as the precious metal struggles to test the March high ($1760), and bullion may consolidate ahead of the Federal Open Market Committee (FOMC) interest rate decision on March 17 as the central bank is expected to retain the current course for monetary policy.