Gold firms as the dollar falls after the FED reveal a slightly more accelerated pace of increasing interest rates commencing next year.
Perhaps what is slightly more concerning is the FED cutting the US growth forecast from 2.9% to 2.1%.
The lower dollar coupled with the smouldering geo political tensions in Iraq and Ukraine may also lend support to the gold price.
Gold Demand Likely to Pick Up
Investor demand is likely to pick up as gold’s appeal heightens as a safe haven asset and portfolio insurance.