Axi analysts explained what will affect the price of gold
Axi experts note that while the price of the precious metal is stable. Holders of gold expect the adoption of the stimulus package for the US economy. We will remind, earlier the new US President Joe Bider spoke about the amount of 1.9 trillion dollars. This initiative was supported by the leaders of the Democrats in Congress. At the same time, there are fears that the package may not be adopted or its amount will be reduced due to the lack of support from the Republicans.
"If the stimulus package for the American economy is nevertheless adopted, gold may reach the level of $ 1,900. The sooner this decision is made, the more profitable for gold. In fact, the market does not care whether this process is smooth or not", - said. Axi analyst Stephen Innes.
Decrease in the price of gold reduces the yield on US government bonds. According to analysts, US Treasuries fell 3.6 basis points to 1.036%. Note that also this week should appear the results of a two-day meeting of the members of the US Federal Reserve, scheduled for January 26-27. The regulator is expected to keep the base interest rate at 0-0.25% per annum.
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