Gold prices jumped after the Federal Reserve said that it would wait for more evidence of progress toward its goals before raising U.S. interest rates. Gold’s 25 percent rally in the first half of the year has sputtered this quarter, partly on concern that the Fed could make a move on rates as soon as this month. Tighter monetary policy is typically negative for gold because the metal doesn’t pay interest.
Gold Jumps as Fed Rate Decision Relieves Worried Traders: Chart
Before it's here, it's on the Bloomberg Terminal. LEARN MORE