Spot Gold Jumps as Fed Seen Moving Closer to Cutting U.S. Rates

From bnnbloomberg.ca

Spot gold climbed after the Federal Reserve signaled a readiness to cut U.S. interest rates, citing increased economic uncertainties. While policy makers left their key rate unchanged on Wednesday, they dropped a reference in their statement to being “patient” on borrowing costs and forecast a larger miss of their 2% inflation target this year. Gold has posted four straight weekly gains, partly on bets that the Fed will lower interest rates amid signs that escalating trade disputes are affecting the U.S. economy. Low rates are a boon to precious metals, which don’t offer yields. “Even though the Fed didn’t ... (full story)