Us fED Provides No New Information, Gold falls Nonetheless

Gold has fallen significantly to $1,085 per troy ounce this morning despite the fact that the Fed statement contained only marginal changes and gave no clear signal that interest rate hikes would be forthcoming in September. The Fed Fund Futures still see only a roughly 40% likelihood of this happening. The chances could be increased by robust US GDP data today, however, as the Fed is making the first rate hike heavily dependent on economic data, says Commerzbank. 

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