| Gold has a message for the market: You’re a nut if you trust the Fed. In the days since the arbiters of American monetary policy raised interest rates on December 16 — the first rate hike in nearly a decade — gold prices have pretty much gone nowhere. On December 15, the day before the Fed’s announcement, gold closed near $1,065.
As I write this, it’s at $1,070 … and it has seen a high of $1,084 and a low of $1,052. Like I said, it has gone nowhere. Which, if you believe the claptrap that passes for institutional knowledge and learned wisdom on the business news channels, defies preconceptions about the metal...............................................Full Article: Source
|