His hand didn’t shake. Powell hiked interest rates at the first FOMC meeting with him as the Chair. But the key factor for the gold market is what he signaled about the future path of the federal funds rate.
The FOMC members will gather today for a two-day meeting. It will be the most important event this week, since Powell will chair the meeting for the first time. Gold investors want to get to know him better as the uncertainty makes them a bit nervous.