Inflation Hawks Swoop Down On Dovish Fed Comments To Exploit Price Rally In Gold

Posted on Posted in Commodities

Well, let’s just say that the Fed’s dovish comments during its FOMC Announcement left a lot of investors and analysts second guessing, which is the ultimate recipe for uncertainty. This made the gold bears easy prey for inflation hawks disguised as gold bulls as they swooped down to buy the shiny metal at lower prices and drive it to a new four week high. Today’s breakout was all the more impressive as it was accompanied by higher volume and the hesitation by Fed Chair Yellen should put a floor on precious metals prices until the rhetoric changes materially. See the daily chart for further technical analysis.

 

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