The Fed speaks and the US Dollar jumps putting downward pressure on gold prices.
The chart above just about says everything however there was no real change to the Feds stance as they remain data driven on a monthly basis, so once again we will just have to wait for the December FOMC Meeting to see what gives.
There are two jobs prints before then and should they remain on the low side then we could wait until March next year before we get word of a rate hike – for now don't hold your breath.
The miners appear to be flat lining with the HUI at the 130 level - do you think it will rally from here or is another challenge of the 100 level on the cards?
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