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Gold prices pop as Fed projects just two more rate increases in 2017

IMG Auteur

USA Gold

Published : March 16th, 2017

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Category : Coins dealers headline


	FT/Mamta Badkar/03-15-17 Something for gold bugs to cheer. The precious metal, which was down as much as 0.1 per cent to $1,197.59 a troy ounce earlier on Wednesday, popped 1.3 per cent to $1,214.96 a troy ounce after the Federal Reserve held its rate forecast steady. The so-called dot plot of interest rate projections pointed to just two further rates rises this year, following Wednesday’s rise, in keeping with the December forecast. However, that disappointed some hawks that had expected the chart to signal four rate rises this year and proved bullish for gold, which offers no yield.

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