Fed Hikes Rate Again and Plans to Unwind Balance Sheet; Should Diminish Gold Investment Demand
At its June meeting, the Fed raised the federal-funds target rate 25 basis points to 1% to 1.25%. In total, the central bank has increased the interest rate 50 basis points this year, thus far delivering two of the three increases it had forecast. The rate hike was largely expected, with market-implied probability of 99% the day prior to the announcement. In addition, the Fed announced plans to slowly unwind its nearly $5 trillion balance sheet of bonds built up through quantitative easing. Up t...Yamana Gold is engaged in the exploration, development, extraction, processing and reclamation of gold and other precious metals mining throughout the Americas including Brazil, Argentina, Chile, Mexico and Colombia. As of Dec 31 2011, total proven reserves for gold, silver, cooper, zinc and molybdenum was 618,709,000 tonnes, 27,316,000 tonnes, 387,660,000 tonnes, 5,004,000 tonnes and 32,000,000 tonnes, respectively.
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