Fed’s Inaction Revives Gold Bulls, Propels Metals and Miners
- Policy makers scale back number of rate hikes seen in 2017
- FTSE 350 Mining Index climbs to 14-month high as metals rise
Sibanye Gold CEO: People Bullish on Future of Gold
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The Federal Reserve’s inaction has again revived gold bulls, and industrial metals and miners are getting a ride as well.
Gold rose to the highest in two weeks after policy makers kept U.S. interest rates unchanged for a sixth straight meeting and cut their outlook for rate increases next year. The dollar slipped for a third time this week, making metals cheaper for holders of other currencies. Mining shares advanced.