US Federal Emergency Meeting | Fed Emergency Meet Timings | Fed Meeting Outcome : US Central bank Federal Reserve scheduled a emergency meeting today. According to Federal Reserve Website emergency meeting is scheduled at 11:30 AM in Washington DC (9 PM India Time).
This meeting is closed door. According to Federal Reserve ”It is anticipated that the closed meeting of the Board of Governors of the Federal Reserve System at 11:30 a.m. on Monday, March 13, 2023, will be held under expedited procedures, as set forth in section 261b.7 of the Board’s Rules Regarding Public Observation of Meetings, at the Board’s offices at 20th and C Streets, N.W., Washington, D.C. and by audio/video conference call.
The following items of official Board business are tentatively scheduled to be considered at that meeting.
”1.Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks.”
A final announcement of matters considered under expedited procedures will be available in the Board’s Freedom of Information and Public Affairs Offices and on the Board’s Web site following the closed meeting. Check here the notification by US Federal Reserve on Emergency meeting dated 13 March 2023.
The outcome of US Fed meeting may come around 10.30 PM to 11 PM according to India timing. Fed may hike interest rate in the meeting. This will surely impact the gold and silver prices. So keep eye on the meeting and prices of gold and silver in the evening. Today Comex gold is trading at 1884 dollar. Gold is up around 17 Dollar.
According to Manoj Jain, Director of Commodity and Currency in Prithvi Finmart the U.S. Fed called an emergency meeting on Monday after the SVC bank saga and could keep precious metals volatile. Gold prices hold above $1855 per troy ounce levels could extend its gain towards $1900 per troy ounce while silver prices cross and sustain above $20.64 per troy ounce could test $21.00-21.55 per troy ounce levels again.
According to Anuj Gupta, VP in IIFL Sec technically the trend of gold and silver is sideways to up. Gold has immediate support placed at $1,835 per ounce levels and then $1820 per ounce levels while on the upper side it is facing hurdles at $1,890 per ounce levels and then $1920 per ounce levels..
Disclaimer: This article is written for informational purposes only. This is the opinion of the expert. If you make any investment, first take the advice of your financial advisor. Individuals associated with Gold Price Today do not personally buy, sell or trade gold/silver.