Fed Keeps Rates Unchanged, Gold Continues Correction
On Wednesday the Federal Reserve announced that interest rates would remain unchanged for now. Frank Holmes chatted with Kitco News' Daniela Cambone about how this affects the gold price.
On Wednesday the Federal Reserve announced that interest rates would remain unchanged for now. Frank Holmes, CEO and CIO of U.S. Global Investors, chatted with Kitco News’ Daniela Cambone about how this affects the gold price. Frank explains how May has generally been a weak month for the yellow metal, going through a correction, before it potentially picks back up in the second half of the year due to Diwali, Christmas and Indian wedding season demand.
For the full story, watch the interview below!
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A basis point, or bp, is a common unit of measure for interest rates and other percentages in finance. One basis point is equal to 1/100th of 1%, or 0.01% (0.0001).
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