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Reuters reported that gold inched back up on Wednesday, facing headwinds from a strong dollar and renewed concerns that the U.S. Fed may look to taper stimulus.
Reuters reported that gold inched back up on Wednesday, facing headwinds from a strong dollar and renewed concerns that the U.S. Fed may look to taper stimulus.
As quoted in the market report:
The Fed’s bond buying is tantamount to printing money and a pull back in the scheme would hurt gold’s appeal as a hedge against inflation. Uncertainty over the timing of the roll back has already pushed the metal down 21 percent this year, after 12 annual gains.
