Fed Raises Rate With Three More Hikes Expected in 2017; Gold Falls to $1,140 per Ounce
At its December meeting, the Federal Reserve raised the federal funds target rate 25 basis points, to 0.50%-0.75%. In addition, the central bank cited improving economic conditions that could support an additional 75 basis points of rate increases in 2017. While the December rate hike was largely expected by the market, the additional three increases next year appear to have come as somewhat of a surprise, as gold prices fell roughly $20 per ounce to roughly $1,140. We expect gold to fall to $1,...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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