Wednesday’s FED announcement brought a lot of action to the metals as they swung on both sides of unchanged. After being higher most of the day in the green, gold broke hard testing the 1480 and rallied to close on the high of the day...
The FED reports its decision on interest rates at 2:00 EDT, which should create some action in the metals, equities, bonds and currencies. For now, we can assume those markets have priced in a .25bps rate cut and only a surprise up or down should create movement...
After Monday’s beat down in the metals, Tuesday saw an expected dead cat bounce. Oversold markets typically create a bounce back to a resistance level which is exactly what happened on Tuesday as gold failed at 1493.5 December futures...
On Wednesday the FED did as expected cutting rates by .25 bps. The initial announcement sent Gold, Silver and the equities reeling. The Dow was down over 200 before coming all the way back and closing on their highs...
The U.S. dodged a bullet last week when Category 5 hurricane Dorian skirted the East Coast. Most of the major population centers did not receive a full blast and those that did were greeted with a storm that didn’t have the punch that was predicted for the South East...
The long-awaited FED decision comes today at 2:00 EDT. Expectations have been all over the place from a rate cut of .50bps to .25bps. Last week it looked almost guaranteed that the cut would be .50 but with the recent economic data...
Thursday, Super Mario Draghi, in his swan song as the head of the ECB, cut rates and added more Quantitative Easing. That action sent the Gold markets soaring higher, pushing the yellow metal up almost 30.00 before settling about 5.00 higher...
