Gold Gains as Fed’s Rate Comments Are Less Hawkish Than Feared

Fed holds rates steady, citing lack of inflation progress
Forward guidance gives implicit nod to cutting rates

Gold advanced as investors found comfort in the Federal Reserve’s signals that it will still pivot to lowering borrowing costs after gaining enough confidence that price gains are cooling.

Officials unanimously decided to leave the target range for the benchmark federal funds rate at 5.25% to 5.5% — where it’s been since July — following a slew of data that pointed to lingering price pressures in the US economy.

Michael Piccoini

Strategic Planning, Leadership & Analysis Professional with a background in healthcare, manufacturing and retail. I have a strong understanding of the complex world of revenue Management and how to make it more relevant, understandable, and actionable for executive leadership across all levels of an organization. My career has spanned several years at UnitedHealth Group, Inc. I obtained my B. Comm from the University of Windsor and MBA from Wayne State University

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