Jakarta –
Gold prices have fallen again. This is because the Central Bank of the United States (US) or The Federal Reserve (The Fed) is projected to take a more aggressive approach to tackle inflation.
Quoted from Bloomberg, Thursday (27/1/2022), gold prices closed lower on Thursday after falling 1.5% in the previous session. Because, Fed Chair Jerome Powell did not rule out raising interest rates at every meeting to control inflation.
Meanwhile, Goldman Sachs Group Inc raised its 12-month gold outlook to $2,150 an ounce from $2,000 following Powell’s comments on expectations of slower U.S. growth, a rebound in emerging markets excluding China, and faster inflation.
“This combination of slower growth and higher inflation will generate investment demand for gold, which we view as a defensive inflation hedge,” analysts including Mikhail Sprogis said in a note on Thursday.
The spot gold price fell 0.3% to US$1,813.89 per ounce after previously dropping 0.4%. Silver, platinum, and palladium all fell.
Watch Videos “Antam’s Gold Price Stagnant Today Rp 913,000/Gram“
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