"Fed's Rate Projections Deemed 'Meaningless' as Gold Price Set to Rally After FOMC"

Analysts are bullish on gold, forecasting it to rise above $2,000 an ounce on a sustained basis despite the Federal Reserve's hawkish warning of two more rate hikes. Some analysts have criticized the Fed's dot plot projections, noting that these assumptions are often unreliable. As more data confirms a slowdown in the U.S. economy, it will become clearer that the Fed can't afford to raise rates further, and gold will resume its rally. The levels gold investors need to watch on the downside are $1,935, $1,900, and $1,890 an ounce.