What’s Next For Gold?

The latest FOMC statement and economic projections signal are that the interest rates will stay at zero until the end of 2023. This is excellent for gold.  On Wednesday, the Federal Reserve issued a statement regarding the FOMC meeting, which was held from September 15-16. The US central bank kept the interest rates and the conditions of its quantitative easing unchanged. The chart below shows the levels of effective federal funds rate and the Fed’s balance sheet. Nevertheless, the statement is changed significantly from the July…