The gold market has been very noisy during trading here on Friday, but in a relative tight range.
It doesn’t surprise me much, considering that we are waiting on a speech by Kevin Warsh at the Jackson Hole Symposium later that could give traders an idea as to what the Federal Reserve may do going forward.
After all, the markets are trying to price in the idea that the Federal Reserve won’t be raising rates later this year, and if that is going to be the case, then it makes a lot of sense that the traders will have to see some type of certainty, as this idea of no more interest rate hikes this year is fairly new one.
At one point, we had 2 hikes priced in.
The gold market has been very noisy during trading here on Friday, but in a relative tight range. It doesn’t surprise me much, considering that we are waiting on a speech by Kevin Warsh at the Jackson Hole Symposium later that could give traders an idea as to what the Federal Reserve may do going forward.
After all, the markets are trying to price in the idea that the Federal Reserve won’t be raising rates later this year, and if that is going to be the case, then it makes a lot of sense that the traders will have to see some type of certainty, as this idea of no more interest rate hikes this year is fairly new one. At one point, we had 2 hikes priced in.
