Gold News: Rate Hike To Coincide with Star Wars opening.
Gold News
A long time ago in a city far far away (depending where you live), the U.S. Federal Reserve decided to raise the interest rate. That was almost 10 years ago, approximately the same time the last Star Wars movie.
While fanboys across the world will be watching the eagerly anticipated film this weekend, investors will be paying attention to see how far the interest rate will go up.
With the interest rate at record lows, analysts have been expecting a rate hike for almost a year. The last time the fed decided to raise the interest rate was back in 2006. The last Star Wars movie to come out was in 2005. Now it appears it will finally happen during the federal reserve meeting on Wednesday.
This isn’t time for anyone looking to invest in gold as a higher interest rate will further strengthen the dollar, and depreciate gold’s value. Gold’s value has been on a steady decline for the past few years, and it appears that it will have a large drop after this weekend.
It looks like the force will not be with Gold on this one.
