welcome back to our weekly update I'm Charlotte McLoud with investing news.com and I'm here to give you a quick look at our top stories for the [Music] week the gold price took off this week moving well above 2,000 per ounce after the US Federal reserve's final meeting of the year although the central bank's decision to hold interest rate steady at 5.25 to 5.5% was widely expected comments from chair Jon Powell have left Market participants thinking that there won't be any more hikes in a press


conference after the Gathering Powell said that people are not writing down rate hikes in their latest economic projections the most recent Dot Plot which shows where each fed official thinks the federal funds rate is headed points to at least three rate cuts in 2024 assuming each is 25 basis points a further four Cuts again of 25 basis Points each are projected in 2025 for a full percentage point in reductions that year gold tends to Faire better when rates are lower and the yellow metal was also supported this week by a weaker US


dollar in the aftermath of the fed's pause the US dollar Index sank to levels not seen since Midway through the year of course gold investors have been hurt before and many are wondering if the current move up is real I recently heard from GTH Solway of verified investing.com who said he thinks that it is he also chose gold as his top performing asset of 2024 we'll be posting the interview with Gareth next week so stay tuned we talked last week about how the US House of Representatives was set to


vote on legislation that would ban Imports of enriched uranium from Russia called the prohibiting Russian uranium Imports Act act it would borrow Russian uranium Imports 90 days after enactment although it would allow a temporary waiver until January 2028 the Act was approved by the house on December 11th and while it was presented to the Senate on December 14th Republican senator Ted Cruz blocked it from passing quickly even so Ur Market Watchers are confident it will ultimately be successful at the same time Bloomberg


reported that a Russian state-owned uranium company is warning its American customers that if the US ban goes into place Russia may preemptively put its own ban on exports of the energy fuel to the US the news comes from people familiar with the matter and the American customers that have reportedly been warned include Constellation Energy Duke Energy and Dominion Energy after years of dorcy positive catalysts are emerging for the uranium sector on what seems like a daily basis and the spot price continues to climb


higher we'll be keeping you posted on future developments that's all for this week if you like this video make sure you subscribe to our Channel we'd also love to hear your thoughts so leave us a comment below we'll see you next [Music] time