welcome back to our weekly update I'm Charlotte McLeod with the investing News Network and I'm here to give you a quick look at our top stories for the week [Music] the gold price was on the rise ahead of this week's U.S federal reserve meeting approaching the 1960 per ounce level prior to the central bank's update Market participants have been debating whether the FED would hike again or leave rates unchanged and ultimately those in the second Camp ended up being correct the FED kept the target range for its


Benchmark boring rate steady at 5 to 5.25 percent according to a statement from the fed this move will allow it to assess additional information and its implications for monetary policy an update to the fed's Dot Plot which shows where each fed official thinks the federal funds rate is going suggests that two more rate hikes of 25 basis Points each are still in the cards the central bank has already hiked further and longer than many people thought it would or could and will be watching closely to see what happens at


the next fed meeting scheduled to run from July 25th to 26th Peter grantage of Peter grantage and Company recently told me that at this point he doesn't expect a cut at any point this year as we wrap up I want to take a moment to share some insights from my recent interview with Rob McEwen of McEwen mining when asked if gold is just taking a breather before it takes off again he said yes here's why he thinks that's the case I don't see us getting out from under the burden of death that governments and


corporations have incurred in massive quantity and then the monetary stimulation there's still the world of wash and liquidity and people are like oh where do I put my money you're seeing central banks and a lot of them are part of that brick group the Russia and China have been putting together have been buying gold and they've been buying them with the dollars they held in their reserves so I think you're going to see more of that happening there's going to be more turbulence in the currency Market as we


go forward the Petro dollar won't be as strong as it used to be and if the dollar is declining then the price of Commodities and gold will go up and we'll see continued inflation Rob also spoke about how gold stocks are performing right now reminding investors that the summer months tend to be a slow period let's listen to his advice I'd say don't get disheartened this is a space you want to be in um usually happens right after the pdac the gold stocks go down for a period and


then through the summer they wander around not really getting too excited but come September they take off again so now is the time to accumulate rather than bemoan the fact it's down I'll leave the link to the full interview below it also includes commentary from Michael medding of McCune copper so I definitely encourage you to check it out if you're interested in the Dynamics for either the gold or copper markets that's all for this week if you like this video make sure you subscribe to


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