Capital Gold Group Report: Gold Gains in Response to Another Fed Rate Cut

By John Jameson on April 30, 2008 9:11 AM | Permalink

By Polya Lesova

Last update: 2:21 p.m. EDT April 30, 2008

NEW YORK (MarketWatch) -- Gold futures gained in electronic trading Wednesday after the Federal Reserve cut its fed funds rate by 25 basis points to 2%, meeting Wall Street's expectations. Gold for June delivery was last up $6.40 at $871.50 an ounce on the New York Mercantile Exchange. The rate cut brought the Fed's target for overnight interest rates to the lowest level since December 2004. The FOMC emphasized higher inflationary pressures and downplayed risks to growth, a signal that the committee may leave rates steady at the next meeting. Before the announcement, gold futures finished regular trading at $865.10, down $11.70.

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This page contains a single entry by John Jameson published on April 30, 2008 9:11 AM.

Capital Gold Group Report: IRA Investors See Golden Opportunity - WSJ was the previous entry in this blog.

Capital Gold Group Report: Historical Trends Reveal Metals Downturn at Onset of 2nd Qtr Expected -- Creates Buying Opportunity for Long-Term Investors is the next entry in this blog.

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Capital Gold Group Report: Gold Gains in Response to Another Fed Rate Cut

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