Gold was on the decline this week, closing just below US$3,370 per ounce, after tensions in the Middle East pushed it past the US$3,430 level toward the end of last week. All eyes were on the US Federal Reserve, which in a widely expected move left interest rates unchanged on Wednesday (June 18) following its two day meeting. The central bank cut rates in December 2024, but has kept them steady for its last four gatherings. US President Donald Trump wasn’t pleased, calling Powell ‘too late’ in a Thursday (June 19) post on Truth Social. While speculation that Trump will fire Powell has died down, the president did recently say he intends to announce his next pick for the Fed leader position ‘very soon.’ Of course, Fed meetings are never just about rate decisions — experts often look to Powell’s post-meeting commentary to read between the lines of what’s said…
