by Alasdair MacLeod
Gold Money
Gold and silver both had spectacular weeks, with gold peaking at a record $2222 overnight on Thursday and silver at $25.75, before profit-taking set in. In European trade this morning, gold was trading at $2166, up $4 on balance from last Friday, and silver at $24.58 was off 60 cents. Comex volumes were moderate except for yesterday when there was a significant peak and subsequent sell-off. These are next:
[…] The Thursday peak followed the Fed’s FOMC decision to hold the funds rate at 5.25% to 5.5%, but in forward guidance the Fed maintained a “no comment” stance and markets are still expecting in June the first of possibly three cuts.