from King World News
In the aftermath of the Fed Meeting, here is a major update on the gold and silver markets.
Gold Post-FOMC
September 17 (King World News) – Ole Hansen, Head of Commodity Strategy at Saxo Bank: Gold as well as silver and platinum have seen renewed weakness following yesterday’s FOMC meeting. This after Fed chair Powell, as expected so close to the US elections, refrained from announcing new measures to stimulate and support an economic recovery which he described as still being highly uncertain. While the Fed has promised rock-bottom rates for longer than three years, the across market reaction with lower stocks and a stronger dollar, have raised some concerns that the Fed’s tool box has started to look empty with the element of surprise no longer there.