Fed’s new monetary policy strategy suggests its interest rate would stay near zero for years in quest to up inflation
Pure gold ore is shown on the stone floor of a mine. Picture: 123RF/PHAWAT KHOMMAI
“The greenback took a big spill on Friday as market participants digested what was coming out of the Jackson Hole Symposium, and the knock-on benefits to gold are still being felt,” said IG Markets analyst Kyle Rodda. Lower US interest rates put pressure on the dollar and bond yields, increasing the appeal of non-yielding bullion.
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