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Gold Gets Saved (This Time) by the Fed as Rate Rise Is Deferred

  • Lower-for-longer on rates set to boost precious metals
  • Bullion heading toward its first weekly gain in four
Gold bars

Gold bars

Photographer: Haruyoshi Yamaguchi/Bloomberg
Updated on

The Federal Reserve just rescued gold, at least for a while.

Bullion is headed for the first weekly gain in four after U.S. central bankers Thursday stood pat on rates. The decision by the Federal Open Market Committee is fueling debate over the strength of the American economy. That’s good news for gold bulls, who have suffered through more than two years of declining prices.