Fed Data Dependence: The NeverEnding Story – Bubba Horwitz

from Kitco NEWS

The latest Fed minutes continue to dominate markets, and gold has pared losses. However, the yellow metal is struggling to take off as the Fed continues to be ‘data dependent’ and has left a possible 2016 rate hike still on the table. However, according to veteran strategist Todd ‘Bubba’ Horowitz, the FOMC may have had ulterior motives with its latest minutes. ‘What I really think they’re doing, they’re trying to slow down the stock market a little bit. They’re afraid of the bubble they’re creating,’ he told Kitco News Thursday. However, he continued, investors aren’t buying it. “The market thinks the Fed is full of it.” Although he expects continued accommodative policy by the Fed, Bubba said he doesn’t see gold prices rallying just yet. ‘I think gold’s going to kind of vacillate here, you got a pretty good ceiling at about $1,380-1,400 and a floor at $1,340.’

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