News Feeds
Coin Collecting NewsGold Rebounds as Dollar Tumbles After Fed’s Interest-Rate Cut
Gold rose after an emergency cut in U.S. borrowing costs reduced the value of the dollar, boosting the appeal of the precious metal as an alternative investment.
The Federal Reserve slashed its benchmark interest rate 0.75 percentage point to 3.5 percent after global equity markets tumbled on concern the slumping U.S. economy will drag down the growth rates of other nations. Gold rallied 31 percent in 2007 after the Fed cut rates by 1 percentage point, sending the dollar down 9.5 percent against the euro. Read Full Story
Related Articles
- Gold Falls as Dollar Climbs for Second Day; Silver Declines
- Gold Heads for Biggest Weekly Gain in 19 Months; Platinum Drops
- Gold Rises to Record; Silver at 27-Year High on Dollar’s Slump
- China Gold demand likely to reach record after bumper growth
- Gold, Silver Decline in New York on Reduced Investment Demand
- Gold Soars Most Since 1999, Silver Surges on Demand for Haven
- Gold Falls Most in Six Weeks as Dollar Rallies; Silver Declines
- Gold Drops for Third Day in London as Euro Trades Near Week-Low
- Gold Falls in London After Dollar Rebounds; Silver Also Drops
- Gold May Gain in London on Inflation Concern, Weaker Dollar
- Gold’s 28 Percent Runup No Fluke
- Gold Gains in London as Dollar Drops Against Euro; Silver Rises
- Gold Has Biggest Weekly Gain Since July 2006
- Gold, Silver Rebound as Dollar Drops on Fed’s Discount-Rate Cut
- Gold falls 2 pct on dollar rise, profit-taking
- Gold falls 2 percent to 2-week low on oil slide
- Gold Rises to Highest Since 1980 on Weak Dollar; Silver Gains
- Gold Lags Treasuries as Dollar Fails to Ignite Rally
- Gold, Silver Decline as Dollar’s Slump Against Euro Stalls
- The Future for Gold
About the Author
Bloomberg News has established itself as one of the world's largest and most trusted information sources. Our mission is to put accuracy above all else while reporting news first, delivering it fastest and making Bloomberg the definitive source to readers, viewers and listeners by describing today's events in the context of tomorrow.
