The Federal Reserve is widely expected to stick to its low interest stance as the FOMC meeting comes to a close today (Wednesday) – something which is highly supportive of strong gold prices.
Many industry analysts and financial institutions have cited low interest rates as being just one reason gold will sail past its previous all-time high and remain a huge magnet for investors in 2021. With expectations that the status quo will remain as the Federal Reserve grapples with high levels of unemployment and a contracting economy, gold is set to be a big beneficiary. Many industry observers expect gold to begin gaining as early as this afternoon following the conclusion of the meeting. With prices currently hovering around £1,343.76 ($1,840.90) don’t miss this window to buy.