PRESS ROOM
Dovish Fed helps lift gold
Monday 15th June '20
The US Federal Reserve (Fed) has indicated that rate tightening is unlikely to take place before 2023. This comes along with a bleak outlook by the central bank for the US economy in the wake of the ongoing pandemic. Gold, which is favoured by investors when economic risks are pronounced and rates are low, made gains of around 3% last week closing the week at just over $1730/oz.