Gold is on the highs of the day, up $38 to $3681 which almost brings it again to the place it was buying and selling minutes earlier than the FOMC determination. It is also simply $20 from the all-time excessive.
This week was a take a look at for gold because it was hit by a considerably hawkish Fed and better Treasury yields. Regardless of that, the bulls pounded on some modest weak spot and have aggressively purchased as we speak.
Finally, I do not suppose the gold bull case is about medium time period Fed coverage or inflation however a few breakdown within the decades-long order in commerce and geopolitics.
gold 10 minute chart
