Posted 30th January 2023

Gold Price News: Gold Consolidates Ahead of Busy Week of Interest Rates

gold bullion bar stack

Gold remains in similar territory to where it has traded for the last couple of weeks as traders and investors prepare themselves for a busy week full of central bank rate decisions, including the Federal Reserve.

With the latest inflation figure out of the US showing that the pace at which the price of consumer goods is rising continues to slow, this has provided more bandwidth for the Fed to operate within and increased expectations that this week’s rate decision will bring a 25 basis point hike, three times smaller than most of the increases in 2022.

This less aggressive stance by the Fed has long since been priced in for gold with this change in sentiment being the catalyst for the precious metal’s impressive rally from early November onwards.

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