• 308 days Will The ECB Continue To Hike Rates?
  • 308 days Forbes: Aramco Remains Largest Company In The Middle East
  • 310 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 710 days Could Crypto Overtake Traditional Investment?
  • 715 days Americans Still Quitting Jobs At Record Pace
  • 717 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 720 days Is The Dollar Too Strong?
  • 720 days Big Tech Disappoints Investors on Earnings Calls
  • 721 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 723 days China Is Quietly Trying To Distance Itself From Russia
  • 723 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 727 days Crypto Investors Won Big In 2021
  • 727 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 728 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 730 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 731 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 734 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 735 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 735 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 737 days Are NFTs About To Take Over Gaming?
Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

  1. Home
  2. Markets
  3. Other

Gold Jumps Nearly $50 as Market Digests Non-News From Fed; Gold Correction Over?

Inquiring minds note the interesting action in gold today following the non-news from the FOMC minutes from June 18 that the Bernanke Fed is not quite ready to tighten.

(See FOMC Minutes and Economic Projections: Dissent in Both Directions; Confused?)


Gold 15 Minute Chart

Gold 15-Minute Chart


Gold Correction Over?

I wonder why anyone thought the Fed was really going to tighten in the first place. Regardless, here's the key question: Does the non-news that the Fed is not really serious about tightening mark the end of the gold correction?

Unfortunately, I cannot answer that (and no one else can either).

However, I do expect extremely negative sentiment regarding gold to bottom at any time, and perhaps this is the time.

 

Back to homepage

Leave a comment

Leave a comment