Many gold industry experts have stated that they expect prices to rise quickly as soon as the Fed pauses rate hike activity. Speaking at a National Association for Business Economics event yesterday (Thursday) the head of the Boston Federal Reserve, Susan Collins indicated this could take place much sooner than expected.
Collins suggested that she expects only one further rate hike to be implemented, before the Feds hit pause for the rest of the year. “Inflation remains too high, and recent indicators reinforce my view that there is more work to do to bring inflation down to the 2% target associated with price stability.
“While the banking system remains strong and resilient, recent developments will likely lead banks to take a somewhat more conservative outlook and tighten lending standards, thus contributing to slowing the economy and reducing inflationary pressures. These developments may partially offset the need for additional rate increases.”
Don’t wait for further price gains. Buy gold now.