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As markets absorbed every one of the Federal Book's hawkish signals, gold tumbled $70 from its two-month highs. Here's a check out Kitco's leading 3 stories of the week:
3. Fed's Powell claims rising cost of living 'is slightly even worse' than in December, signals March price walk.
2. The International Monetary Fund reduced its international growth outlook for 2022 to 4.4%. The united state and also China saw the most significant descending modifications.
1. Goldman Sachs is lengthy gold. The financial institution increased its 12-month cost forecast to over $2,100 an ounce, advising financiers to acquire December 2022 gold futures.
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Gold tumbles $70, are hopes of $2,000 price tag over?
As markets digested all of the Federal Reserve's hawkish signals, gold tumbled $70 from its two-month highs. Here's a look at Kitco's top three stories of the week:
3. Fed's Powell says inflation 'is slightly worse' than in December, signals March rate hike.https://www.kitco.com/news/2022-01-26/Gold-price-tumbles-35-as-Fed-s-Powell-says-inflation-is-slightly-worse-than-in-December-signals-March-rate-hike.html
2. The International Monetary Fund cut its global growth outlook for 2022 to 4.4%. The U.S. and China saw the most significant downward revisions. https://www.kitco.com/news/2022-01-25/Fed-in-focus-as-IMF-cuts-U-S-growth-outlook-cites-tighter-monetary-conditions.html
1. Goldman Sachs is long gold. The bank raised its 12-month price forecast to over $2,100 an ounce, advising investors to buy December 2022 gold futures.https://www.kitco.com/news/2022-01-26/Goldman-Sachs-long-Dec-22-gold-sees-prices-rising-to-2-150.html
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