Precious Metals
Gold Continues Descent Following Powell’s Hawkish Stance
Gold prices continued their downward slide on Thursday, after plummeting by the most in over two months following the Fed’s
The post Gold Continues Descent…

Gold prices continued their downward slide on Thursday, after plummeting by the most in over two months following the Fed’s hawkish comments on taming inflation.
Spot gold fell below $1,800 per ounce at the time of writing, continuing its sharp descent from Wednesday’s FOMC meeting, which heeded an unexpectedly more aggressive stance on raising borrowing costs. A rebound in the US dollar was largely responsible for the market’s pressure on the bullion, after Fed Chair Jerome Powell announced the possibility of raising rates at each consecutive meeting starting in March.

The latest slump in gold prices wiped out all gains accumulated since the beginning of the year, many of which were initially driven by the market’s anticipation of price pressures surpassing bond yields, even amid a rate-tightening environment. However, Powell’s latest hawkish comments decimated such expectations, with the 10-year bond yield soaring to the highest in nearly 19 months on Wednesday.
This prompted Goldman Sachs to revisit its 12-month gold price forecasts, upgrading the bullion’s price from $2,000 to $2,150 per ounce following Powell’s speech.
Information for this briefing was found via Reuters. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
The post Gold Continues Descent Following Powell’s Hawkish Stance appeared first on the deep dive.

Daily market commentary: Gold prices continue to recover from the multi-month lows
Gold Gold prices continue to recover from the multi-month lows touched earlier in May. The non-yielding precious metal is benefiting from the drop in treasury…
Asia Broadband (OTCMKTS: AABB) Bullion & Crypto (Tequila, Bonanza, Zodiac)
Asia Broadband (OTCMKTS: AABB) is moving northbound in a hurry in recent trading as volume and interest have picked up substantially. AABB was one of the…
Gold and the ‘Real’ Interest Rate
[This blog post is an excerpt from a commentary published at TSI last week] One of the few commonly-believed things about gold that is actually true is…
-
Economics14 hours ago
Is A Recession On The Horizon? This Stripper Says It’s Already Here
-
Precious Metals20 hours ago
What’s Up With Gold?
-
Precious Metals20 hours ago
Fundamentals Are Unchanged For Gold
-
Energy & Critical Metals20 hours ago
Looming Copper Supply Cliff Puts Porphyry Players in Pole Position
-
Companies18 hours ago
Alianza Minerals Closes CA$750K Private Placement
-
Economics20 hours ago
What Could Go Right?
-
Energy & Critical Metals5 hours ago
Vivos Inc (OTCMKTS: RDGL) Powerful Move Up as Biotech Meets with FDA to Clarify Yttrium Particle Containment & Vivos Dosimetry Calculation Technique
-
Companies18 hours ago
Aztec Minerals Arranges CA$3M Strategic Investment With Alamos Gold