The Federal Reserve will conclude its two-day FOMC monthly meeting later today (Wednesday) with the outcome expected to be very favorable for gold. Despite the drop into recession, there is an expectation that no major changes to policy will be forthcoming. Analysts say that the interest rate is most likely to remain as it is for now and will only change when the data shows that an economic recovery is underway. The current policy of quantitative easing is also set to be maintained with a potential additional $1.3 trillion on its way to help lubricate the markets and stimulate the economy.

All these measures are highly supportive of gold prices and add further appeal to the precious metal. The impact of these decisions could easily be felt into 2021 and beyond, which means that gold is also in a rock-solid position for the longer term – something that many experts have already suggested with widespread expectations of steady price rises into 2023.

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