Within narrow ranges, the goldprice is still moving since the start of trading this week between the support level of $1915 and the resistance level of $1945. Will it Hold for Long?
The United States said it would impose "significant and immediate economic costs on the Putin regime for its atrocities in Ukraine, including Bucha". The sanctions include freezing the US assets of Putin's daughters and cutting them off from the US financial system. Washington also said it would apply "total ban" sanctions against Sberbank and Alfa Bank, Russia's largest public and private financial institutions.
Stocks fell and bond yields rose on Wall Street on Wednesday after details from the Federal Reserve's meeting last month showed that the US central bank intends to be assertive in its efforts to combat inflation. Meeting minutes show that policymakers agreed to begin reducing the Fed's stockpile of Treasuries and mortgage-backed securities by about $95 billion per month, starting in May. As a result, the S&P 500 fell 1%, and the Dow Jones Industrial Average fell 0.4%.
Overall, investors are focused heavily on Fed policy as the central bank moves to reverse low interest rates and the exceptional support it began providing the economy two years ago when the pandemic pushed the economy into recession. The Fed's proposed timetable to allow billions of bonds and mortgage-backed securities off its balance sheet was hinted at Tuesday in comments by Fed Governor Lael Brainard, who said the process could begin as soon as May and continue at a rapid pace.
US inflation has reached its highest level in four decades and threatens to derail economic growth. Rising prices on everything from food to clothing have raised fears that consumers will eventually cut back on spending. Russia's invasion of Ukraine added to those fears, sending energy and commodity prices, including wheat, higher.
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