The Federal Reserve has given another strong hint that its punishing rate hikes program could be about to come to an end – a move that will surely free up the gold bulls and trigger the expected run to a new high.
Speaking yesterday (Tuesday) Patrick Harker, the President of the Philadelphia Federal Reserve said that the data could now be suggesting that the rate increases have done their job – with no further rises now necessary.
He said, “Absent any alarming new data between now and mid-September, I believe we may be at the point where we can be patient and hold rates steady and let the monetary policy actions we have taken do their work.”
This could be a notable shift towards a change in policy – something that could have a hugely positive effect on gold prices. With analysts calling for gold prices to surge to new levels by the end of 2023, don’t wait on the Feds to take action.
Buy gold now.
