CUR - Gold mining stocks move higher as Fed keeps zero-rate outlook

Gold prices (XAUUSD:CUR) settled lower, then moved higher after the Federal Reserve continued to project near-zero interest rates at least through 2023.Fed Chairman Powell "reiterated that inflation was not a concern and the Fed would continue its accommodative policy pursuing its full employment and inflation goals," GraniteShares portfolio manager Jeff Klearman says. "As a result, market conditions continue to be favorable for gold prices."April Comex gold settled -0.2% to $1,727.10/oz., then bumped up to $1,742/oz. in electronic trading shortly after the Fed news.Real yields remain "significantly negative with five-year real yields about -1.7% and 10-year real yields about -0.7%, meaning there is no opportunity cost to holding gold," Klearman tells MarketWatch.The 10-year Treasury note yield touched its highest levels since January 2020, adding to pressure on gold prices during the session, then eased some of its gain following the Fed decision.Among miners on the move: [[NEM]] +2.1%, [[GOLD]] +2%, [[KGC]]

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Gold, mining stocks move higher as Fed keeps zero-rate outlook