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    Daily News & Analysis of Precious Metals Platinum, Gold & Silver.

    Wednesday, March 8, 2017

    FED Updates

    For the last six consecutive days gold prices have moved lower. This is in anticipation of a potential interest rate hike later this month when the Federal Reserve meets on March 14-15. Recent statements made by Federal Reserve members, including chairwoman Janet Yellen, have continued to make a strong case for an interest rate hike being the appropriate action and an outcome of this month’s meeting.

    The underlying sentiment from the Fed seems to be that the economic data that Fed members use to aid in their decision has been supportive of an interest rate hike as an appropriate move at this time. Although Fed members, traders, and investors are awaiting the results of Friday’s non-farm payroll jobs report, the current estimate is that there were 190,000 new jobs added in February.

    Last updated at 08/03 10:00

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