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  • Federal Reserve releases final policy statement of 2014

    The Federal Reserve has released its final policy statement of 2014 declaring it “can be patient” on the issue of raising interest rates for the first time since 2008. The full statement can be read here. In its last few statements, including this latest one, the Federal Open Market Committee asserts that interest rates will likely remain near zero

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  • Former Fed Chairman Alan Greenspan Talks Gold

    In an essay featured in Foreign Affairs titled “Golden Rule: Why Beijing Is Buying”, former Federal Reserve Chairman Alan Greenspan praises the various properties and benefits of physical gold, claiming “gold has special properties that no other currency, with the possible exception of silver, can claim.” He makes some other compelling statements, such as: “For more than two millennia,

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  • What is the Federal Reserve? Basic Questions Answered

    A central bank, according to a basic Google search, is: “a national bank that provides financial and banking services for its country’s government and commercial banking system, as well as implementing the government’s monetary policy and issuing currency”. The United States’ central bank is called the Federal Reserve, nicknamed “The Fed”. What is the history

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  • Gold and Interest Rates: What You Need to Know

    As Monday’s blog pointed out, gold bugs are currently juggling multiple economic and geopolitical indicators that are affecting the gold price, one of them being U.S. interest rates. The Federal Reserve is meeting on Tuesday-Wednesday of this week and is expected to announce a raise in short-term interest rates, which have been at near-zero levels since

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  • Janet Yellen: “The labor market has yet to fully recover.”

    Speaking at an economic summit in Jackson Hole, Wyoming featuring top economists and central bankers from across the globe, U.S. Federal Reserve Chairwoman Janet Yellen remarked that “the labor market has yet to fully recover” from the 2007-8 financial crisis. See the full text of her speech.  Other important remarks Yellen made include: Wage growth

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  • Mixed Sentiments in Latest Federal Reserve Meeting Minutes

    Minutes from the U.S. Federal Reserve’s late-July policy meeting released on Thursday were mixed in terms of a possible earlier interest rate hike. Market reactions were mixed as well, as gold fell to a two-week low, bond yields dipped, and stocks and the U.S. dollar fell at first but then rallied. “The hawkish voices within the Fed have become louder. While

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  • Gold Investors Weigh Latest U.S. Economic Data Against Geopolitics

    Gold fell from a one-week high on Tuesday but was little changed on Wednesday morning as investors are weighing signs of an improving U.S. economy against geopolitical tensions in Russia/Ukraine and the Middle East. The Federal Reserve concludes their two-day meeting on Wednesday, and data is expected to show that the economy rebounded last quarter.

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  • What to Watch for at This Week’s Federal Reserve Meeting

    It’s a big week for United States economic data, with the Federal Open Market Committee (FOMC) meeting on Tuesday-Wednesday, second quarter GDP figures being released on Wednesday, and employment data coming out on Friday. Markets are already reacting, with the 24-hour gold spot price reaching a one-week high of $1,312 per ounce early Tuesday morning, and

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  • Fed Meeting Minutes Released, Precious Metals Rally

    Minutes from the Federal Open Market Committee’s mid-June meeting were released at 2:00 p.m. EST today and the precious metals market has reacted accordingly. Gold hit $1,330 an ounce, a rise of 1%, just a half hour after the minutes were made public. They revealed much of what was expected: there will be no hike

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  • What Happened to Gold Yesterday – Who, What, When, Where, and Why?

    Brendan Conway of Barron’s wrote an article yesterday asking What the Heck Just Happened to Gold and Precious Metals? Many other market-watchers are probably asking this same question, and more importantly, they are asking who, what, when, where, and why. The Fed’s announcement made on Wednesday night of downgraded growth forecasts for the U.S. economy as

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