• 1,139 days Will The ECB Continue To Hike Rates?
  • 1,139 days Forbes: Aramco Remains Largest Company In The Middle East
  • 1,141 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,540 days Could Crypto Overtake Traditional Investment?
  • 1,545 days Americans Still Quitting Jobs At Record Pace
  • 1,547 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,550 days Is The Dollar Too Strong?
  • 1,550 days Big Tech Disappoints Investors on Earnings Calls
  • 1,551 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,553 days China Is Quietly Trying To Distance Itself From Russia
  • 1,553 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,557 days Crypto Investors Won Big In 2021
  • 1,557 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,558 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,561 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,561 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,564 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,565 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,565 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,567 days Are NFTs About To Take Over Gaming?
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  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