“The Fed said it can allow inflation to run above its 2% target for some time seems like they are going to keep their monetary policy extremely loose, which should help gold.”
The dollar fell to an more-than one-week low, making gold cheaper for holders of other currencies, and was on track to post its biggest weekly percentage fall since end-July.
Powell said on Thursday the central bank would adopt an average inflation target, meaning rates are likely to stay low even if inflation rises a bit in the future.
https://www.reuters.com/article/global-precious/precious-gold-surges-ov…
About the author
Since 1995, providing gold investors with the latest precious metals information & financial truth!
