Gold, that old hedge against inflation, faces near term volatility due to global events and us interest rate shifts, but its medium-term prospects shine with an imminent easing of the rate cycle - Issue Date: Apr 14, 2024
The U.S. Federal Reserve leaves its benchmark interest rate unchanged at a 23-year high of 5.25-5.50 percent, citing economic growth, while also suggesting that an anticipated cycle of cutting borrowing costs is not likely to begin soon.
Global equity and bond markets have been on a tear since Fed chair Jerome Powell’s dovish turn this month, which will force other central banks to pivot as well.