(Before It's News)
MTECHTIPS:-Investors parse Fed views on rates with gold higher in early Asia
Gold was last quoted higher heading into the Asian day on Thursday after the Federal Reserve left few clues about the pace and timing of any future interest rate hikes. On the Comex division of the New York Mercantile Exchange, gold for February delivery was quoted up 0.40% to $1,124.70 a troy ounce. Silver for March delivery fell 0.68% to $14.465 a troy ounce, while copper was quoted up 1.06% at $2.059 a pound in early Asia. Federal Reserve policymakers left interest rate settings unchanged Wednesday as their first Federal Open Market Committee meeting of 2016 ended amidst global financial turmoil and economic anxiety. The FOMC, which raised the federal funds rate by 25 basis points after seven years near zero Dec. 16, gave no hint of when it might raise that and other short-term interest rates again, although its acknowledgement of threats from “global economic and financial developments” could potentially mean greater delay. Neither did it give any indication it is backing away from the “gradual” rate normalization strategy announced last month. The vote to keep the funds rate in a target range of 25 to 50 basis points was unanimous.Overnight, gold inched down on Wednesday remaining near three-month highs in cautious trading ahead of the first monetary policy statement by the Federal Reserve since the U.S. central bank lifted interest rates at a historic meeting last month.
WWW.MTECHTIPS.COM
07489294118-119
Register
Newsletter
If you really want to ban this commenter, please write down the reason:
