by Stefan Gleason
Precious metals markets traded into an important technical juncture ahead of Wednesday’s Federal Reserve policy announcement.
Bank of America analysts stated that this week’s meeting is “one of the most critical events for the Fed in some time.”
The Fed faces mounting pressure to intervene in the bond market as yields continue to rise. It will likely reiterate its commitment to keeping its benchmark rate near zero and vow to continue buying at least $120 billion in bonds per month.
Critics of Fed chairman Jerome Powell’s easy-money stance are warning that monetary and fiscal policy are too loose.