The Fed Did Not Suggest Raising Interest Rates In Advance To Boost Spot Gold Prices.

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< p > spot gold price rose on Wednesday (July 9th), hovering above $1320, because the minutes released by the fed within the day did not imply that it would raise interest rates earlier. So gold prices are still being boosted. Meanwhile, SPDR Gold Trust GLD, the world's largest gold backed trading fund, said gold holdings rose for the second consecutive day, rising to more than 800 tons for the first time in 4 months, pushing gold prices to a week high. < /p >
< p > > a href= "//www.sjfzxm.com/news/index_c.asp" > the Fed's < /a > minutes show that if some economic conditions remain positive, the Federal Open Market Committee (FOMC) may conclude its debt purchase plan after the October meeting. Many members hope to end their portfolios and Reinvestment after raising interest rates for the first time. However, investors believe that the US Federal Reserve's idea of monetary policy has not changed significantly, which means that the Federal Reserve is not ready to raise interest rates soon, nor will it withdraw the stimulus plan early. < /p >
< p > the minutes of the Federal Reserve meeting also reiterated its position. It is expected that inflation in the United States will remain below the target of 2% in the next few years. The US dollar index dropped to about a week low, boosting gold's attractiveness as a hedging tool. < /p >
< p > > a href= "//www.sjfzxm.com/news/index_s.asp" > spot gold > /a > 1% in the day, 1330 US dollars per ounce, and US gold futures closed up 7.80 US dollars in August, at 1324.30 US dollars per ounce. Spot silver climbed with gold, rising 0.8% to $21.17 an ounce. < /p >
< p > palladium prices hit a new high of 13 and a half years for second consecutive days, and platinum also rose. South Africa's miners have been on strike for a long time, tensions between Russia and the west, the main producers, and rising sales of cars have pushed palladium and platinum up. Spot palladium rose 0.5%, at $871.22 an ounce, hitting 873.80 dollars in the session, the highest in February 2001. < /p >
< p > spot platinum rose 1.3%, to $1507 an ounce. Due to the tension between Russia and the West over the Ukraine issue, it is worrying that the supply of platinum metals in Crimea will be affected. < /p >