Gold appetite to improve as Fed signals low interest rates – ANZ

Gold rallied strongly after the Fed noted that low-interest rates were here to stay and is currently trading at $1732.60. Silver also benefitted, soaring to $18.193 and sitting at $17.894 now, strategists at ANZ Bank apprise.

Key quotes

“Chair Powell signalled that asset purchases would continue at the present pace or more, while rates will remain near zero through 2022.” 

“The open-ended asset purchasing program gave comfort to those who have been worried that rising asset prices could curtail Fed buying. Silver prices rallied even stronger, as investors looked to the unloved precious metal.”