Gold has risen 22% Year to Date and Has Reached Its Two Year High
Gold News
It was a shaky week for Gold, but overall the price has still been rising. A few key events transpired that led to this movement.
The US Federal Reserve, also known as The FED, decided against a rate hike. Investors were wary about another possible rate hike, leaving the market with no activity other than losses. The FED will likely keep rates where they are, thus prompting investors to put more money into markets. Gold is one of the most attractive commodities because it has a safe return and is usually increasing.
Another key thing that is weighing on the markets, is whether or not the United Kingdom will depart from the European Union, commonly referred to as a Brexit. There is much debate as to what would happen if the UK leaves the EU. Tensions are high in the UK and for investors, because the decision will have a significant impact on the global economy. Unfortunately, this past Thursday, Jo Cox, an MP for the Labour party, was murdered with relation to the possible Brexit. The referendum will be taking place on June 23, and all investor eyes will be watching the vote closely.
Gold has risen 22% Year to Date and has reached its two year high.
