Make Kitco Your Homepage

FED Fuels Reversal in Gold

Commentaries & Views

Wednesday Janet Yellen and the FED delivered their decision on interest rates, which was the worst kept secret and raised rates 0.25%. The shock was not the hike but the way bonds, gold and other interest sensitive products were trading before the announcement. They were all significantly higher, which was illogical based on expectations.

Gold is back to support, oil is getting clobbered, the dollar is higher and the loonie is on support. There is trouble brewing and the markets are indicating a move into the correction phase. The biggest message being sent is manipulated markets always fail and these will not be different.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Precious Metal Charts

Follow Kitco News

Stockpools Contest