Gold Pressured by FED Comments
Category: Market Reports
Author Name: Walter Pehowich
Posted: 05-18-2016 04:36:00 PM
Author Name: Walter Pehowich
Posted: 05-18-2016 04:36:00 PM
Higher oil prices fueling the inflation figures giving some at the Fed some ammo to consider a rate hike sooner than later.
SendGold feeling pressure after comments from San Francisco Fed President John Williams and Atlanta Fed President Dennis Lockhart. They both indicated that the Fed could raise rates two or three times this year.
The labor department reported inflation picked up in April at 0.4 percent, the largest gain since February 2013.
Higher oil prices fueling the inflation figures giving some at the Fed some ammo to consider a rate hike sooner than later.
Later today, the Fed will release the minutes from the last meeting as the street patiently awaits the news before taking on any positions.
A Stronger dollar ( 7 week high) and slow physical demand is keeping pressure on the price of gold and silver. Any indication from the Fed this afternoon at 2pm that rate hikes are a possibility at the next meeting or two, I expect to see a strong sell off in the yellow metal.
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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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