"The gold market is leaning towards the Fed's (policy),"
said Stephen Innes, chief market strategist at AxiCorp, adding
that the U.S. central bank might not change the current
narrative, but there is a strong belief in the market that it
would be able to trigger inflation.
The lower interest rate environment and long-term
expectations that the Fed is going to increase quantitative
easing and weaken the dollar are supporting gold prices, he
added.
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