Federal Reserve Chairman Jerome Powell and his colleagues are expected to hold policy steady at a two-day meeting that starts Wednesday, right after the U.S. vote, while leaving the door ajar to a rate increase at their final gathering of 2018. So far this year, the Fed has raised rates three times.
After the election, the U.S. economy will still have a strong jobs market, according to Axel Merk, manager of the $135 million VanEck Merk Gold Trust.
“This means the Fed will continue to hike, more so than is currently priced into the markets,” he said in an email Nov. 2. “The price of gold will do what it has been doing of late: gyrate.”
This article was provided by Bloomberg News.