Kitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
- It appears that global monetary policy tightening has peaked as both the Swiss National Bank and the Bank of England announced that they would leave interest rates unchanged on Thursday.
In global currency markets, gold is outperforming the Swiss franc and the British pound. These are the only two currencies gold is seeing gains against. Although the SNB left interest rates unchanged, it would not rule out further rate hikes through the rest of the year. "CPI inflation is expected to fall significantly further in the near term, reflecting lower annual energy inflation, despite the renewed upward pressure from oil prices, and further declines in food and core goods price inflation," the central bank said in its monetary policy statement.The SNB and BOE decision came a day after the Federal Reserve left its interest rates unchanged in a widely anticipated move.
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