Gold Stays Vulnerable to Interest Rates


XAU slipped again today as the USD gained traction, with Treasury yields maintaining lofty levels going into a busy week for central banks. The precious metal is below $ 1,670 at the time of going to print.

The Federal Reserve meeting will be held on Wednesday, while the Bank of England (BoE) and the Swiss National Bank (SNB) will gather on Thursday.

The Fed and SNB are expected to raise rates by 75 basis points (bp), while the BoE might announce a 50 bp hike.

USD/JPY has had a quiet day trading in a small range with Japan on holiday.

Equity markets have started the week with the same cautious tone as last week ahead of the central bank meetings.

All eyes in the market are on central banks this week.

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