Gold steady ahead of Fed meeting, palladium scales record peak

“Gold is sort of treading water ahead of the Fed meeting,” StoneX analyst Rhona O’Connell said.

So that would be essentially be supportive for gold.

“In the short term, gold’s major headwind would be renewed increases in the longer-term yields, notable the 10-year rate on the back of fresh strength in U.S.

“We expect supply, demand deficits to widen sharply in 2021 to levels not seen since 2014, and narrow in 2022 but remain wide.

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