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Gold Prices May Fall on FOMC Minutes, Recession & Credit Risks
Gold prices could suffer after the minutes from the Federal Reserve’s emergency meeting on March 15 are released. That day, Chairman Jerome Powell announced that the central bank cut itstarget range for its benchmark Fed Funds interest rate to 0.00-0.25 percent. He also announced a $700 billion quantitative easing program (QE) with $200 billion dedicated to mortgage-backed securities and $500 allocated to Treasuries.While the Fed’s intention was to help bolster confidence and provide liquidity, their actions were met in turn with risk aversion. This may be because the Fed’s policies were read by investors as an ... (full story)
