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Gold jumps to record high after US central bank statement
Gold jumped more than 1 percent to its highest level in six weeks on Thursday after the Federal Reserve said it would begin cutting its huge holdings of bonds at a "relatively close" time, prompting the dollar to fall.
The US central bank kept key interest rates unchanged as expected, and in a statement after a two-day meeting it said it was continuing the slow track of tightening monetary policy, which has raised interest rates by one percentage point since 2015.
Spot gold rose 1.1 percent to $ 1262.11 an ounce late in the US session, after hitting a record high of $ 1263.42, the highest since June 15.
Before the US Central Bank announcement, US gold futures fell 0.2 percent to settle at $ 1249.40 an ounce. But rose nearly 1 percent in subsequent trading on the settlement to $ 1,260.6 an ounce.
http://economy-news.net/content.php?id=8449
Gold jumped more than 1 percent to its highest level in six weeks on Thursday after the Federal Reserve said it would begin cutting its huge holdings of bonds at a "relatively close" time, prompting the dollar to fall.
The US central bank kept key interest rates unchanged as expected, and in a statement after a two-day meeting it said it was continuing the slow track of tightening monetary policy, which has raised interest rates by one percentage point since 2015.
Spot gold rose 1.1 percent to $ 1262.11 an ounce late in the US session, after hitting a record high of $ 1263.42, the highest since June 15.
Before the US Central Bank announcement, US gold futures fell 0.2 percent to settle at $ 1249.40 an ounce. But rose nearly 1 percent in subsequent trading on the settlement to $ 1,260.6 an ounce.
http://economy-news.net/content.php?id=8449
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