Fed Decisions affected the Gold and Silver, while supported Oil
The
Fed said it will cut monthly bond purchases to $75 billion from $85 billion,
citing an improved outlook for the U.S. employment market ahead of
jobless-claims data today.
*Gold:
The announcement
of the Federal Reserve’s January tapering plans has pushed the Gold down and
has lost its demand as hedge against inflation.
The Gold
hit as low as $1,199.44 per ounce, and
was trading under that key $1,200 level
for the first time since June 2013.
Gold
started its decline since late Wednesday after the Fed said it would cut its
pace of monthly asset bonds buying from $85 billion to $75 billion.
*Oil:
Crude
Oil rose to $97.7 after the Fed decision, as the stimulus has supported assets
such as commodities
U.S. crude held gains after data from
the U.S.
Energy Information Administration (EIA) showed crude inventories in the world's
largest oil consumer dropped to 372.3 million barrel. Brent Crude also rose to
trade near $110.
*Silver:
The precious
metals including the Gold and Silver have lost their demand as safe haven
against inflation. Silver traded lower after the Fed decision and declined to $19.13.
Capitol Academy online FUNDAMENTAL ANALYSIS courses will help you
to learn “How the Fed Decision could affect the Gold and currency prices and your trading”, please Register and
benefit from our End of the Year discount of 70% on any online course.
