Gold News: Gold Surges after FOMC Meeting

Gold News

In the latest gold news: As of January 6 at 1:01am EST, gold was trading at $1223.49 per ounce. This shows a remarkable increase in the price of gold from approximately this time last week when gold was trading for $1190.79 per ounce.

Gold News

The Federal Open Market Committee’s monthly meeting had a big impact on the price of the bullion. The FOMC gave no indication about a March interest rate hike which led to a drop in the dollar and sent bullish investors running towards gold.

The London Bullish Market Association is changing the rules in a big way regarding the bullion in England. Banks will become more transparent in terms of their gold holdings. Banks will now have to disclose how much gold they are holding in their vaults, making it public information.

In the month long gold prediction ending February 3rd , I Know First’s algorithm showed an impressive 100% accuracy rate, as seen in “Gold Outlook Based on Pattern Recognition: Over 5% Return in 1 Month.” After 30 days, I Know First’s average percent change came out to an impressive 5.95% with XAU and GLD each bringing 5.95% to investors.

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