span class="Apple-converted-space"> span style="color: black;">Mihir Kapadiaspan style="color: black;">span style="color: black;"> – CEOspan class="Apple-converted-space"> and Founder of Sun Global Investments writes onthe performance of gold as we await the US Federal Reserve outlook for the year.">
Wednesday 14, June 2017 by William Mullally

The performance of gold

span style="color: black;">span class="Apple-converted-space"> span style="color: black;">Mihir Kapadiaspan style="color: black;">span style="color: black;">  CEOspan class="Apple-converted-space"> and Founder of Sun Global Investments writes onthe performance of gold as we await the US Federal Reserve outlook for the year.

span style="font-size: 10pt; font-family: Arial,sans-serif; color: black;">“Gold is edging upwards as the markets are awaiting direction from the Federal Reserve Meeting which looks set to raise interest rates by 25 bp for the second time this year.  A 25bp rate hike has been widely expected and has already been priced in the markets, and they will be looking to the Fed statement for any indication of the evolution of the FOMC views and what it would mean for the path of future interest rates and the likely pace of the shrinking of the Fed’s Balance Sheet.   

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span style="font-size: 10pt; font-family: Arial,sans-serif; color: black;">U.S. gold futures for August delivery were nearly flat at $1,268.90 an ounce, while spot gold was up 0.1 percent at $1,267.05 per ounce. As a geopolitical risk has been reduced significantly over the last week, the focus for the Precious Metal now shifts towards the US dollar and the interest rate path of the US Fed.”

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