Gold Price Jumps After Federal Reserve Holds Interest Rates
Gold price increased on Thursday 17th September 2015 due to the US Federal Reserve announcing that interest rates in the US economy would remain the same from the near zero levels. It has not increased for 9 years..
Gold for delivery in December – the most active futures contract on the Comex market in New York – increased more than $10 an ounce to $1,131.76, which represents a two-week high.
The US central bank stated subdued inflation in the US – yesterday CPI moved into deflationary territory – and the “moderate pace” of economic growth.
Additionally, The Federal Open Market Committee only anticipates inflation to increase to the target rate of 2% by 2018.
The FOMC mentioned it “continues to see the risks to the outlook for economic activity and the labor market as nearly balanced but is monitoring developments abroad.”
Gold Price Jumps, Interest Rates Held
It is commonly said that interest rates and gold maintain a strong negative correlation.
Holding gold has its absolute benefits in a market that remains uncertain. Interest rates have been held for a significant time period and the outlook is that they won’t increase in the near future.
Buying gold represents a safe way to invest and keep a steady reign on your investment.
Inflation continues to be a challenge for most global economies and the way to counter this is to hold interest rates.
Gold investment provides an investor whether experienced or not to put their money into a steady financial vehicle.
Many people have a 401k and by investing into a gold IRA by way of a 401k rollover can give people peace of mind in knowing they are investing smartly for their retirement.
Gold continues to provide a “safe haven” and a 401k rollover to a gold IRA can be the best way to invest in gold.
For many seeing that gold continues to jump provides more than substantial credence that this precious metal is well worth investing in!
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