Fed Keeps Rates Unchanged, Says Inflation Pressure Is Low

The Federal Open Market Committee, or FOMC, just wrapped up its two-day meeting. As expected, the federal funds rate remained the same, but that doesn’t mean that nothing significant happened. In fact, some potentially dovish language has been added to the committee’s statement, which may reduce the probability of further interest rate hikes.

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Gold Traders Await FOMC Meeting

Gold Traders Await FOMC Meeting

Gold Silver Reports (GSR) – Technically, no change in the pattern. Support key around $1,220; resistance at $1,237. August sometimes can surprise. Markets are very thin and many big producers in Europe are closed or at limited capacity. Will not take much for volatility to increase.     

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