| From commodityonline.com: Precious metals turned higher following three losing sessions as bargain hunters emerged from the shadows and picked some up at prices nearly $100 lower than what was on offer two weeks ago.
The markets (stocks aside) greeted the unsurprising Fed decision with little more than minor moves after it became evident that the central bank is now dividing its attention between growth (not happening just yet) and inflation (happening allright, and on the public enemy list at pole position).
Then again, it could also be argued that the Fed's steady stance and the Dow's rally were likely (and in good part) the results of an oil price that has finally cracked, and of the most sizeable slump in commodities since 1980. Looks like the commodity markets may be doing the Fed's job on its behalf at least as regards bringing down inflation. It's the growth part that has commodity sellers crowding the market exit doors...... Full Article: Source |