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FinanceGold advances after Fed holds interest rates steady
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Gold prices advanced following the US Federal Reserve's decision to keep interest rates unchanged, with a nine-to-three vote in favor of holding rates. The article notes that while gold has fallen by more than a fifth since the Iran war, a dip-buying wave has supported the precious metal near the key support level of $4,000 per ounce since late June. The decision by the central bank to maintain rates appears to have provided a boost to gold, which is often seen as a hedge against inflation and currency fluctuations.
Source report
The US central bank has voted nine to three in favour of holding rates.
- While gold is down by more than a fifth since the Iran war, a dip-buying wave has held it up near the key support level of $4,000 an ounce since late June.
Source
The Business TimesRegional
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