Bullion’s golden moment may happen sooner than later

HOW many times this year has gold hit the US$2,000-per-ounce level but failed to hold above the magic mark? At least three, and counting.

With the world’s largest central bank, the US Federal Reserve, widely expected to deliver a final nail on the rate-hike coffin soon as inflation cools, a real breakthrough may be on the horizon for gold to smash through that big round number – or so, gold believers reckon.

In a “momentous” week packed with central bank meetings in the US, Europe and Japan, the US Fed is expected to raise rates by 25 basis points at its two-day Federal Open Market Committee (FOMC) meeting, which ends on Wednesday (Jul 26).