Wall Street Greek

The Wall Street Greek blog is the sexy & syndicated financial securities markets publication of former Senior Equity Analyst Markos N. Kaminis. Our stock market blog reaches reputable publishers & private networks and is an unbiased, independent Wall Street research resource on the economy, stocks, gold & currency, energy & oil, real estate and more. Wall Street & Greece should be as honest, dependable and passionate as The Greek.

Wednesday, September 17, 2014

GLD – Sell Any Gold Strength on the Fed Today

If the Federal Reserve’s announcement today offers the mild tone I am expecting and if the setup of the last several days drives an upward move in the SPDR Gold Trust (NYSE: GLD), I would use it to sell stakes. While my long-term perspective remains bullish for gold, I see near-term downside that traders need not bear. The writing is on the wall in big bold print and it is evident in the chart of the SPDR Gold Trust (NYSE: GLD) as well. No matter what the Federal Reserve does in its latest monetary policy announcement, it is headed toward raising interest rates. The dollar has already strengthened significantly against some currencies, but not against the broader base. See the full report here.