Gold investment potential remains healthy despite Fed's hawkish stance - State Street's Milling-Stanley

- Although the gold market is suffering from a lack of momentum, the precious metal's investment potential remains healthy, with plenty of potential to grow, according to one market strategist.

Milling-Stanley's optimistic comments on gold come as State Street releases an update to its gold investor survey published in June. The updated analysis looked at the role financial advisors can play in developing the gold market. "The main message from the analysts is that the future of gold investment seems to be safe. That is very, very good news," said Milling-Stanley."There is a job for the industry at large to do in terms of educating investors and potential investors."

Although interest rates are expected to remain higher or longer, Milling-Stanley said it is not a significant threat to the gold rally, because Wednesday's decision is providing little new momentum for the U.S. dollar.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Wall Street stays mixed, bond yields spike after Fed updates rate outlookNEW YORK (AP) — Stocks was mixed and Treasury yields snapped higher after the Federal Reserve pulled back on its estimates of how much it expected to cut interest rates next year.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street stays mixed, bond yields rise after FedNEW YORK (AP) — U.S. stocks are mixed Wednesday after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it. The S&P 500 was 0.
Source: SooToday - 🏆 8. / 85 Read more »