Gold prices could rally a little on a Fed hike, but a lot on a hold, with $5,000/oz back on the table – Jesse Columbo

(Kitco News) – If the Federal Reserve hikes interest rates by 25 basis points as expected on Wednesday afternoon, gold could still see a mild relief rally on the removal of lingering uncertainty. But if the central bank ignores market expectations and votes to hold rates steady, gold prices could surge higher as they begin a march back to $5000, according to Jesse Colombo, independent precious metals analyst and founder of the BubbleBubble Report.