Gold Price News: Anticipation of FOMC decision drives market momentum

On September 18, 2024, the price of gold stood at 2,573.84 USD per fine ounce, down 0.38% from the previous day. This development indicates a consolidation, while the market eagerly awaits the upcoming meeting of the US Federal Reserve and the possible statements by the chairman on interest rate policy.

The markets are currently particularly attentive regarding the interest rate decision of the US Federal Reserve, with expectations of a rate cut already largely priced in. Future monetary policy and the subsequent statements by Fed Chairman Jerome Powell could be decisive for market expectations, particularly during the press conference following the interest rate decision, and thus influence the gold price.

Despite temporary volatility, demand for gold remains robust, driven by ongoing uncertainty in global markets and geopolitical tensions. At the same time, supply bottlenecks and rising production costs are putting additional pressure on gold prices. OANDA's experts point out that the gold market is operating at near record highs due to a combination of monetary easing and limited supply, further strengthening gold's position as a safe haven investment.

In the long term, a sustained positive scenario for gold is expected. Current forecasts suggest that the gold price could rise significantly over the next five years. This is due, among other things, to real income growth, fiscal imbalances and persistent geopolitical risks. These factors are likely to further strengthen the demand for gold as an inflation hedge and store of value.

Ahead of important central bank decisions, market participants remain cautious, keeping a close eye on possible indications of future monetary policy. Developments in the coming days could have significant implications for investment strategies and the price of gold. Investors should watch for possible buying opportunities if the price declines further, as the long-term outlook for gold remains strong. Detailed analysis and discussion of the short- and long-term influences on the gold market show that both macroeconomic developments and monetary policy decisions remain key drivers of price movements.