Gold Price Jumps $17 on USD Index Decline, FOMC Meeting


The gold spot price spiked $17.80 per ounce Friday morning due to an unexpected decline in the U.S. Dollar Index, as well as due to buying caused by the change of wording during a recent Federal Open Market Committee (FOMC) meeting. As of 11:00am EST the gold spot price was hovering around in the $1,185-$1,190 per ounce range.

gold spot price, certified gold exchange, gold prices, interest rates

The FOMC has been consistent in its use of the word “patient” in reference to raising interest rates, currently at 0.25% at the primary level. The minutes from this week’s meeting, however, didn’t include the word “patient,” causing many investors to buy gold as a precautionary measure. Historically, a rising interest rate cycle coincides with rising gold prices.

Related News: Gold Price Hits 5-Week High on Weak U.S. Data

Additionally, the U.S. Dollar Index has been rising steadily for several months. Today’s sudden fall could indicate a changing trend, according to Certified Gold Exchange analysts. “If the trend of the last few months is changing,” said CGE analyst Rob Patel, “today’s 1% increase of the gold price could be the beginning of a new rising gold price cycle.”

For further information on gold spot price fluctuations or to claim your free copy of our new special report, Gold & Silver Smart Moves in 2015, click on the magazine below or call us directly at (800) 300-0715 today.

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About Certified Gold Exchange, Inc.

Certified Gold Exchange first made a name for itself with banks, investing institutions and household investors in 1992 and is now known as “America’s Trusted Source for Gold”. Its A+, Zero Complaint rating and its PriceMatchPlus® guarantee makes it easy to see why American investors love to work with the Certified Gold Exchange. Call the Certified Gold Exchange toll-free at (800) 300-0715 today for your free 2015 Insiders’ Guide to Investing in Gold.
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