Gold Investors – The Fed is NOT Your Friend
Listen up gold investors! Our best friend of the last decade, the U.S. Federal Reserve, has abandoned us. I suggest investors ignore the gains in the SPDR Gold Trust (NYSE: GLD) that followed the FOMC meeting. The interpretation of the FOMC Monetary Policy Statement and Fed plans is confused friends. The Fed’s free money days are over and tightening policy is assured this year, so these nostalgic trades reminiscent of the good old days are misplaced and will not last. Though the dollar appears extended on a long-term basis, it can hold or strengthen further on a short and medium term basis, meaning gold likely weakens again. See more about gold and the Fed here. Article also interests iShares Silver Trust (NYSE: SLV), Market Vectors Gold Miners (NYSE: GDX), Market Vectors Jr. Gold Miners (NYSE: GDXJ), Goldcorp (NYSE: GG), Newmont Mining (NYSE: NEM), Randgold Resources (Nasdaq: GOLD), Barrick Gold (NYSE: ABX).
Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.
Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.
Labels: Federal_Reserve, Federal-Reserve-2015, Gold, Gold-2015, Gold-2015-Q2, INDUSTRY-Gold
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