Gold News: Gold Regains Steam After the Fed Meeting

Gold News

In the latest gold news: As of September 26, 2016 at 7:31AM EST, the price of gold rose significantly up to $1336.68 per ounce. At approximately this time last week, gold was selling for $1314.40 per ounce.

On Wednesday, the awaited and dreaded Fed meeting took place. Leading up to the meeting, gold prices dropped out of fear of an interest rate hike as early as the end of the month. At the meeting, the Fed decided to keep short-term interest rates steady for the time being. However, the not so good news is that there is an increased expectation for interest rate hikes in December.

This week polls showed that Hillary’s lead over Trump is narrowing. This could mean a very rocky 4th quarter for gold with the elections coming up in November says Citigroup.

Nord Gold, headquartered in London opened its new mine in West Africa. The mine is expected to produce, on average, 118,000 ounces of gold for the next 10 years. The opening of the mine caused NRDVY to shoot up over 6% on Friday.

On June 24th, I Know First’s algorithm accurately predicted that gold and silver would show negative growth in the 3-month gold prediction, as seen in “Gold Outlook Based on Genetic Algorithm: Over 14% in 90 Days.” I Know First’s average percent change came out to an impressive 9.04%.



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