This is the first time gold is up on FOMC meeting The boldness of the market not to protect what the FED is deciding on. Usually they wait a week to allow gold to go up in reaction of what the FED is doing so there is no apparent correlation.
Is the market finally balking at the FED, giving up on it. I'm not saying that is a good sign. Usually it is a bed sign. Things are falling apart in the world, and gold reacts to that.
Here's some of the headlines on kitco, the first 5 or so are recogning the gold price is moving up on what the FED is doing. The FED is being targeted for being wrong and can't contain gold's price that is the signal the FED is wrong and not doing things right for the US or world. Just for itself and fellow banking system.
Note .... The gold bull market in the 1970s and 1980s happened even as the Fed tested record-high interest rates. The yield on the 30-year Treasury bond rallied sharply during the late 1970s, eventually topping 15% in 1981. Gold rallied from about $100 per ounce in 1976 to over $850 per ounce in 1980.
Ex-Fed Chairman Alan Greenspan: ‘We are in a bond market bubble’ that’s beginning to unwind
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