-
Divided FOMC to Boost Gold as Hedging Tool Against Fiat Currencies
The price of gold slipped to a fresh monthly-low ($1483) as the Federal Reserve took steps to “help keep the U.S. economy strong,” but the risks surrounding the global economy may keep the precious metal afloat as Chairman Jerome Powell and Co. project a lower trajectory for the benchmark interest rate. DIVIDED FOMC TO BOOST GOLD AS HEDGING TOOL AGAINST FIAT CURRENCIES The reaction to the Fed’s 25bp rate cut raises the risk for a larger pullback as gold struggle to retain the range-bound price action from earlier this week, and it seems as though the Federal Open Market Committee (FOMC) is in no rush to reverse ... (full story)