- MarketPulse - https://www.marketpulse.com -

Gold Surges to Above $1170 after Fed

Gold prices jumped on Wednesday, after the Federal Reserve dropped the word “patience” from its policy statement, stoking expectations for a mid-year rise in U.S. interest rates.

As the global investment community focused its attention on the U.S. central bank, the Fed Open Market Committee lived up to expectations: It dropped the word “patient” from its post-meeting statement, an indication, subtle though it may be, that the era of zero interest rates is about to end.

Spot gold was up 2.1 percent to $1,172.30 an ounce, above its lowest since Nov. 7 at $1,142.86, hit on Tuesday.  U.S. gold futures for April delivery settled up 0.3 percent at $1,151.30 an ounce.

CNBC [1]

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

marketpulsefxstaff

Latest posts by marketpulsefxstaff (see all [4])