As gold continues to hold its own this week in the midst of the Fed's so-called “hawkish pause,” it's a good time to reflect on the things the naysayers have been saying for years and how they have been wrong.
Yellen is now the one saying that the US dollar will slowly decline as the global reserve currency. That’s worth noting because I’ve never heard any treasurer admit that before.
The Fed did not increase interest rates further this week, but updated projections show the committee has increased how high they expect rates will go this year.
Money Metals Exchange has again joined the Sound Money Defense League in offering the Sound Money Scholarship -- the only known gold-backed scholarship of the modern era.
Whether the Fed pauses, pivots, or not with respect to their current quest to raise interest rates does not reverse the damage that has been done by intentionally creating inflation for more than a century.
When many were uber-bearish, I was expecting the market to rally to 4300+. Yet, now that many have begun to turn bullish, I am now turning quite cautious, especially since we have now arrived at our expectation for 4300+ that we set many months ago.
Today’s Fed announcement and the Fed chief's speech will likely indicate the Fed’s take on inflation for the next few months… and then gold is likely to either dip to a buy zone or it will shoot out of the congestion zone.
