All Eyes Are On Yellen
On this week’s episode of Kitco’s Gold Game Film, host Daniela Cambone asks Frank Holmes what he will be watching during this busy economic week. Frank says the most anticipated event will be the Federal Open Market Committee (FOMC) meeting on Wednesday, as investors watch what Janet Yellen will do about interest rates.
Frank continues by reminding viewers that depending on how fast or slowly the Federal Reserve decides it wants to raise rates, gold will inevitably be affected. He will also be paying attention to the consumer price index (CPI) number released later this week, because historically the gold price rises when the inflationary rate (CPI) is greater than the current interest rate.
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The Consumer Price Index (CPI) is one of the most widely recognized price measures for tracking the price of a market basket of goods and services purchased by individuals. The weights of components are based on consumer spending patterns.