Gold pre- and post- Fed non-decision: Surge back to $1,270

Here are links to a couple of my posts which are up on the website.  The first was written prior to the latest U.S. Fed Open Market Committee meeting looking at the nervousness ahead of the meeting which had seen gold fall back to the $1,230s.  while the consensus had always been that the Fed would do little or nothing, which indeed proved to be the case, there were still some predicting a more hawkish stance which did ahave an adverse effect on precious metals.

See: Tense time for gold bulls

In the event, as noted above, the Fed was cautious on any progress on the U.S. economy and on potential global reaction to any suggestion that the next rate increase might be sooner rather than later.  The non-decision by the Fed boosted equities and saw gold as a major beneficiary shooting up to around $1,270 at the time of writing.  What this observer thinks this means for precious metals is covered in the article.

See: Gold back at $1270 level after cautious Fed statement

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