Fed Raises Rate, Gold Stocks & Gold Up!

March 15, 2017

1 min read

In News

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Janet Yellen, Chair of the Federal Reserve, announce a 0.25% point raise in its key interest rate.

Source CNN: Fed Raises Key Interest Rate

The price of gold responded sharply with the Fed announcement, spiking more than $20 per ounce. Gold Spot Price March 15

As can be seen in the chart above, the price jumped immediately with the announcement.

Gold stocks also saw a sharp intra-day price increase with the Fed’s announcement.

ARCA Gold Bugs Index March 15, 2017

At the moment, the Index is up over seven per cent, or $13.20, on the news of the quarter-point rate hike. The price of gold and gold stocks often correspond negatively to interest-rate increases, but the US Dollar also fell against the Canadian Dollar upon release of the Federal Reserve news.

About Chris Haugen

Christopher Haugen is driven to help the broader investment community better understand the current state of, and trends within, the mining investment industry. As the Host and Managing Editor of the Mining Stock Report, Mr. Haugen is working hard toward this evolving goal. With 20 years of experience in the investment industry focused primarily on the mineral resource sector, Christopher has developed into a strong proponent of laissez-faire economics, and hard assets such as gold and silver.

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Fed Raises Rate, Gold Stocks & Gold Up!

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