FOMC Already Baked Into Gold’s Cake?
from Kitco News Since we last spoke with Gary Wagner, gold has fallen below key support levels he shared with our viewers. How does he see the market set up ahead of next week’s much anticipated Federal Open Market Committee meeting? “The real issue right now is taking a look at the fundamentals that have been in play in the market that have been moving the [gold] market lower,” he says. “You cannot look at the gold market without looking at the dollar.” This week’s analysis focused on gold’s relation to the U.S. dollar index, and analyzes critical levels for the metals. Gary says he will look at “what happens if [gold] breaks below that key support level, and what happens if it holds.”