Gold futures fell below $ 1,840 today. As investors turn to dollars as a safer asset than to acquire gold. After the Federal Reserve (Fed) expressed concerns about the delayed economic recovery of the US.
The price of gold was also pressured by the strength of the dollar. Which has reduced the attractiveness of the gold contract By making contracts more expensive for holders of other currencies
At 00.44 hours Thai time, the gold contract in the COMEX market (Commodity Exchange) is delivered in February. Minus $ 5.40, or 0.3%, to $ 1,839.50 / oz.
The Fed’s Monetary Policy Committee (FOMC) unanimously maintained short-term interest rates at 0.00-0.25% yesterday, the Fed’s first meeting this year.
In addition, the Fed said it would continue to buy bonds following the quantitative easing (QE) total of $ 1.2 billion a month. The Fed will buy US government bonds in the amount of 80 billion dollars a month. And bought $ 40 billion / month of mortgage-backed mortgage-backed debt securities (MBS).
The Fed’s post-meeting statement said. The Fed will continue to use every tool to support its economic recovery in order to reach its full potential. And stabilize prices
The Fed also stated that The coronavirus outbreak Are impacting economic activity across the US and around the world. This has led to a slowdown in economic recovery and employment over the past several months. While the economic outlook depends on the epidemic situation of the COVID-19 virus. And development of a vaccine against COVID-19
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