| Is the Fed about to give commodities a much-needed boost? Gold tempered recent gains ahead of the Federal Reserve statement Wednesday. But if the central bank sounds dovish in its release at 2 p.m. ET, gold and other metals could be ready to surge.
In December, the Fed raised the federal funds rate for the first time in almost a decade. However, Phillip Streible of RJO Futures said he doesn't expect another rate hike for the rest of 2016. The absence of further rate increases should lead to a weaker dollar and higher gold prices...............................................Full Article: Source
|