The Federal Reserve (Fed) is expected to raise its policy rate by 25 basis points (bps) to the range of 4.75%-5% on Wednesday, 22 March 2023 at 18.00 GMT.
Gold Soars to $1,978 After Fed Raises Rates as Expected
Spot gold jumped to $1,978 during Fed Chair Powell’s press conference and then pulled back. A decline in US yields and broad-based Dollar weakness is offering support to the yellow metal, which is up more than 1% on the day. The beginning of the end of the fight against inflation …