Rate hikes & QT both tend to push down the price of gold but a lot of market expectation re monetary policy is already baked into the price so guidance by the fed of further hikes or tightening can still cause gold to rise if the guidance falls below what the market expects
Unfortunately this week Powell did the opposite of this (made statements that were more hawkish than what the market expected), so gold dipped, despite everyone having already factored in the rise itself
Im really just talking to myself but I’m sure you and everyone else already know this
I’d love trump to fire Powell. I wouldn’t discount the possibility. Pog would snap the leash, let’s hope it happens
WAF Price at posting:
24.5¢ Sentiment: Hold Disclosure: Held
(20min delay)
