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Wednesday Is All About The FED

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(Kitco News) - Today is all about the Fed and the FOMC meeting. At 2:00 p.m. EST the statement will be delivered and dissected for clues about what the geniuses will do next to screw up the economy. Today, there will be a statement, only with no news conference, which may give markets direction.

The speed readers of the statement will be looking for key words or phrases that will guide them into the next trade. Gold looks to be selling off from resistance and the range is solid $1,220-$1,260. The dollar remains weak and gold has not reacted as well considering the weak dollar.

It looks like gold traders have an idea what the Fed is going to do, which by the price of gold they will remain Dovish. Stay Tuned the action could get wild

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 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.

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