Gold price has been on a spectacular upside run amid tensions in the Middle East but price has been on a decline since last week. The two-day Federal Open Market Committee (FOMC) meeting on April 30 and May 1 has put gold prices under further pressure due to fears of higher-for-longer interest rates by the U.S. Federal Reserve. As safe-haven demand wanes, is Bitcoin next to tumble to $60K?
Gold Price Plunge Jitters Bitcoin Fall to $60K
Gold fell 1% on Tuesday, stabilizing near $2,300 per ounce ahead of the Federal Reserve’s monetary policy decision and non-farm payrolls data due later this week. Investors awaited clues on the Fed and Jerome Powell’s monetary stance as recent US economic data lowered expectations of rate cuts.
The recent PCE data indicated persistent inflationary pressures and Q1 GDP growth of 1.6% showed stagflation. The Fed needs new positive indications of inflation falling as it maintains its benchmark interest rate steady at 5.25% to 5.5%. The prediction market
We współpracy z: https://coingape.com/gold-price-tumbles-ahead-us-fomc-meeting-bitcoin-to-follow/
