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Gold Breaks Out Of Range After Dovish Fed…Further 1% Gain To $1,321/oz

Executive & Research Director @ GoldCore

January 31, 2019

– Gold breaks out of range to highest in 8 months after dovish Fed
– Fed keeps benchmark interest rates unchanged (range between 2.25 percent and 2.5 percent), will be ‘patient’ on future hikes and “flexible” on its balance sheet as indebted and vulnerable US economy slows
– Fed decision and statement are very gold positive and strongly suggest that rather than tightening the Fed may be forced to ease monetary policy; further QE is likely in the coming months
– Gold is up 3.4% in January and is set for 4th monthly gain; silver gains 3.8% in January
– Meanwhile White House warns nations not to buy Venezuelan gold as reports of Russian plane landing in Caracas to collect gold

Gold in USD (1 Year) – GoldCore.com

Source: Bloomberg, US Global Investors

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Mark O'Byrne is executive and research director of www.GoldCore.com which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth.