Commodities
Fed Decision Spikes Gold Volatility Amid Rate Hike Uncertainty
Gold prices (XAUUSD) have been on a rollercoaster ride after the Federal Reserve meeting, dipping to as low as $4,028.62 during the Asian session on July 30. From a technical perspective, gold prices briefly climbed to $4,116.28 after the Fed announced its interest rate decision but failed to hold the $4,100 level.
The market reassessed internal divisions within the Fed regarding rate hikes and U.S. Treasury yields rebounded, leading to short-term bullish momentum for gold weakening significantly.