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Gold shines ahead of Fed statement

Posted on 29 April 2015

Hopes that the Federal Reserve will refrain from significant changes in its April statement due on Wednesday have buoyed gold prices. Gold rallied for a second straight day, rising 0.9 per cent to $1,212.62 an ounce, on expectations that Fed policymakers will acknowledge the recent spate of soft economic data, which in turn would make a June rate rise less likely than previously thought.
The timing of the Fed’s first rate rise has largely governed the price of gold this year. As an asset class that offers no yield, the prospect of a rate rise has weighed on gold, as investors rotate into income yielding assets………………………………………..Full Article: Source


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