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OANDA Analysts: FED May Save Gold's Value

OANDA Analysts: FED May Save Gold's Value

Amid news of US coronavirus vaccinations and a new economic aid package, the price of gold is hovering. Note that earlier in December, US Treasury Secretary Stephen Mnuchin proposed to send $ 916 billion.

Analysts are confident that the price of gold may also be affected by expectations related to the future meeting of the FED. Markets are eagerly awaiting the regulator's macro forecasts, as well as its asset purchases and interest rate plans. Edward Moya, chief market analyst at OANDA, believes that economic difficulties open up opportunities for the FED to roll over soft monetary policy. Gold prices seem vulnerable, but the FED can fix the situation”, - he said.

Over the past few weeks, the price of gold has dropped by about 5.5%. November 2020 was the worst month in 4 years for this precious metal.

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