The Fed doubled down on its dovish stance. What card will gold play now?
Fed Remains Patient
Yesterday, the FOMC published the monetary policy statement from its latest meeting that took place on March 19-20th. In line with the expectations, the US central bank unanimously kept its interest rates unchanged. The federal funds rate remained at the target range of 2.25 to 2.50 percent:
The Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.