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Gold Ultimately Wins the Fed’s Game – Post FOMC


The Fed punts the can down the road.

Christopher-LemieuxSMBullion.Directory precious metals analysis 18 June, 2015
By Christopher Lemieux
Senior Analyst at Bullion.Directory; Twitter @Lemieux_26

Yesterday’s FOMC minutes, followed by a press conference by Fed Chair Janet Yellen, gave those rate hike bulls nothing to hook their horns on. In fact, Yellen came out dovish as ever.

Yellen specifically stated that the labor market, inflation and broader economic progress had not met the conditions for a rate hike in the near-term, and the context of her statement gave heed to those believing that a rate hike in September was a done deal.

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Perhaps the foreshadowing to Yellen’s comments were the uttered enthusiasms from guest on CNBC, which stated exactly the oppose of Yellen only moments prior to her statement.

Despite the decaying roses in the garden of economic bliss, Wall Street continues to peddle the idea that the US economy is strengthening or that the “recovery” is in the beginning stages.

Precious metals did not see an immediate jump following Yellen’s comments, even as the dollar base jumped off the hopium cliff. However, as traders digest the comments, gold is trading $20 higher and looking to test $1,200 once again. Yields fell after pricing in a more hawkish outlook.

No matter the outright bearishness, gold remains resilient in this centrally planed global economy.

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