Gold Jumps as Fed Rate Decision Relieves Worried Traders: ChartBy
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.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.