World Market News of the 5 February with FXOpen #fedrate #goldprice #silverprice #dowjones #sp500

Powell Insists Fed Will Move Carefully on Rate Cuts Federal Reserve Chair Jerome Powell vowed in a “60 Minutes” interview aired Sunday that the central bank will proceed carefully with interest rate cuts this year. “We just want some more confidence before we take that very important step of beginning to cut interest rates,” he said. Powell warned that the monetary policy tightening would cause “some pain.” However, “it really hasn’t happened,” he added. Source: CNBC Gold Prices To Hit $2,200 And a ‘Dramatic’ Outperformance Awaits Silver in 2024 -- UBS Gold and silver are expected to climb further in 2024 on expectations that the U.S. Federal Reserve will start cutting interest rates, UBS forecasts. “We are expecting gold to be pushed higher by a Fed easing. Also this comes with a weaker dollar” said the investment bank’s precious metals strategist Joni Teves, who expects the metal to hit $2,200 per ounce by the end of the year. Gold prices tend to have an inver