Revealing results about gold prices from the Federal Reserve meeting
In the past few weeks, the price of gold was relatively low – reaching its minimum in 3 months last week - and without variations as gold investors were waiting for the outcome of the Federal Reserve's meeting to make a move in gold investment.
Investors expected a raise in interest rates, which would have made them turn to other type of investments. On the contrary, the Federal Reserve officials announced that an increase for interest rates is not probable, which together with the moderated data and the low inflation, increased immediately the price of gold.
Regarding the key point of inflation, it has declined further below where officials would like it, according to the Federal Open Market Committee. When inflation will be near 2% over the medium term, the interest rates will be increased.
Goldman Sachs Group Inc. also had a few words in respect to this increase in gold prices. Last week the group reported that gold prices would fall to $1,100 this year, and declared a negative view. Nonetheless – due to the already mentioned reasons and many other forecasts - the price of gold has risen up to 1.6% to settle at $1,1647, its maximum since the end of January
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Category: Gold news Publication date: 2015-03-23 09:51
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