Will Gold Get Jackson Holed?
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Friday marks the beginning of the meeting of the clueless central bankers in Jackson Hole, Wyoming. This meeting highlights the leaders of the Fed and ECB, Janet Yellen and Mario Draghi. The entire investing community will be hanging on every work spoken, trying to gain an edge.
Any policy shift could have ripple effects in the United States and across the globe. The ridiculous lower-for-longer manipulated interest rates are the only thing keeping world markets together -- robbing from the poor and giving to the rich.
Gold continues to hold that key level of $1,290; nine of the last 11 days, it has crossed that level. Gold is waiting to make a huge move in either direction, and the meeting of the mindless in Jackson Hole, Wyoming, would be just the ticket to push the markets, which we believe will be higher