Gold Price Prediction – Prices Edge Higher Following Fed Decision

New York (Jan 29)  Gold prices edged higher on Wednesday following the Fed’s decision to keep interest rates unchanged. The Fed said that job gains have been solid, but inflation remains below the Fed’s 2% objective. The Fed said that household spending is rising at a moderate rate. The Fed will continue to assess the appropriate path of the fund’s rate according to the Fed’s statement. Business investment and exports remain weak according to the Fed, which is why the market is leaning to future rate cuts instead of tightening. US Pending Home sales dropped more than expected in December.

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