GLDI - Gold Market Commentary: Select Elections And Fed On A Dime
2024-03-08 08:00:00 ET
Summary
- Gold fell by 0.3% in February on a rise in risk appetite and higher Treasury yields. But a bounce in early March has seen gold hit new all-time highs.
- A Fed meeting with new dot plots and Iranian parliamentary elections are events to watch in March, with monetary and geopolitical uncertainty high.
- Geopolitical risk seems to have a significant impact on gold prices.
Gold pares back on rates and Mag7
Gold prices retreated to US$2,048/oz by the end of February, a 0.3% m/m fall. 1 Nonetheless, FX volatility has ensured that y-t-d returns remain positive in four of the major currencies ( Table 1 )....
Gold Market Commentary: Select Elections And Fed On A Dime