Precious Metals Preview: Gold rises above $4100 per ounce in volatile trades
Mumbai, July 30 -- Gold rebounded in Asia after a volatile spell yesterday. The Federal Reserve released its latest interest rate decision on Wednesday, opting to keep rates at a range of 3.5% to 3.75%. The Fed kept rates unchanged for the fifth consecutive meeting. However, the he Fed's chair Kevin Warsh said the US economy was performing well on employment but faced challenges on inflation. He also noted that the focus of the central bank was to "understand and identify underlying inflation dynamics amid shocks." The US Bond yields jumped following this meeting, with the 30-year Treasury yield topping 5.2% and hitting its highest level since 2007. The rate on the 10-year yield rose more than 7 basis points to 4.67%. Gold eased initially o...
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