THE Fed has provided the New Year fireworks this year.
Expectations for an earlier turn in the interest rate cycle were given further support by non-farm payroll employment data which saw the unemployment rate dip below 4%, well on its way to matching the pre-pandemic low of 3.5%.
That would be the fastest pace of chance since February 1982 when the Federal Reserve was still battling to get on top of the stagflation that made the 1970s such an economic catastrophe.
One place they haven’t been looking in the past year or so is the gold market where the price of the precious metal has fallen from an August 2020 high of $2,067 to around $1,800.
That will be enough to keep the bull market running as long as valuations, the final key driver of returns, remain stable after last year’s declines.
If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice.
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