Interest rates and its effect on Gold and precious metals

An interest rate is the amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets. The assets borrowed could include cash, consumer goods, and large assets such as a vehicle or building. In terms of borrowed money, the interest rate is typically applied to the principal, which is the amount of money lent. The interest rate is the cost of debt for the borrower and the rate of return for the lender. So in other words, interest rates are the prices for holding or loaning money. Banks give out interest rates for saving money which attracts depositors. Banks also receive interest … Continue reading Interest rates and its effect on Gold and precious metals