Comments made by the Federal Reserve chairman have created a fantastic opportunity to add gold to your portfolio, if you act quickly.
Speaking after the monthly FOMC meeting wrapped up on Wednesday, Jerome Powell said that interest rates may end up higher than had previously been expected, while also indicating that the prospect of a “soft landing” had further shrunk.
He said, “At some point … it will become appropriate to slow the pace of increases as we approach the level of interest rates that will be sufficiently restrictive to bring inflation down to our 2% goal. We still have some ways to go. And incoming data since our last meeting suggests that the ultimate level of interest rates will be higher than previously expected.
“The inflation picture has become more and more challenging over the course of this year. That means that we have to have policy be more restrictive, and that narrows the path to a soft landing.”
Gold traded around £1,460 ($1,639) in the aftermath of those remarks, creating a highly attractive window to buy the dip. However, it’s important to act quickly as Powell also hinted that the pace of rate hikes could soon slow – something which will then push up the price of gold.
He said, “At some point, it will become appropriate to slow the pace of increases. That time is coming, and it may come as soon as the next meeting or the one after that.”
Don’t miss your opportunity to buy at such a favourable price point.
