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Gold Keeps Its Head Up Prior to This Week’s Fed Meeting

Gold Keeps Its Head Up Prior to This Week’s Fed Meeting
Category: Market Reports
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Posted: 09-19-2016 10:55:00 AM

Today’s Fedwatch Tool shows a 15 pct. chance of a rate hike being announced on Wednesday.

The price of gold keeping her head above the $1,310 level as we await hearing from the Federal Reserve and the Bank of Japan later this week.

The FOMC meets Tuesday and reports at 2pm est. on Wednesday. The Bank of Japan reports after their markets close on Wednesday.

Economists are not sure what the Bank of Japan will do. Banks in Japan are calling for the BOJ to put an end to negative interests rates and falling yield curves that are putting them out of business.

Since the BOJ reports first, I’m sure the BOJ will give our FOMC some guidance and help them with their decision.

Today’s Fedwatch Tool shows a 15 pct. chance of a rate hike being announced on Wednesday.

Watch out: If there are any surprises from either The Bank of Japan or our Fed, the markets I expect will react violently, as most are expecting no changes.

Keep a close eye on the markets as the decisions are released. In the meantime, most Wall Street traders expect the market to be quiet thru Wednesday and most are not participating in the gold market at this time.

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About The Author

Walter Pehowich Author Name: Walter Pehowich
This editorial has been prepared by Dillon Gage Metals. This document is for information and thought-provoking purposes only and does not purport to predict or forecast actual results. It is not, and should not be regarded as investment advice or as a recommendation regarding any particular security, commodity or course of action. Opinions expressed herein are current opinions as of the date appearing in this editorial only and are subject to change without notice. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not prove to be true, results are likely to vary substantially. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate its ability to invest for a long term especially during periods of a market downturn. No part of this editorial may be reproduced in any manner, in whole or in part, without the prior written permission of Dillon Gage Metals. This information is provided with the understanding that with respect to the opinions provided herein, that you will make your own independent decision with respect to any course of action in connection herewith and as to whether such course of action is appropriate or proper based on your own judgment, and that you are capable of understanding and assessing the merits of a course of action. You may not rely on the statements contained herein. Dillon Gage Metals shall not have any liability for any damages of any kind whatsoever relating to this editorial. You should consult your advisors with respect to these areas. By posting this editorial, you acknowledge, understand and accept the foregoing.

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