Posted on 06/17/2021 10:48:43 AM PDT by BenLurkin
The Federal Reserve surprised the market Wednesday with projections that future interest rate hikes will come a bit sooner than expected. Gold bugs in particular were disappointed.
The price of gold fell 4% Wednesday and was lower again Thursday, falling below $1,800 an ounce for the first time since early May. While it's true that gold often rises along with inflation fears, Wall Street may have already priced in this scenario. Investors appear to be selling gold now due to expectations that the Fed is taking the threat of inflation more seriously and may move more aggressively to tamp it down.
Higher rates would be bad for gold, which would lose its luster compared to other assets including bonds that tend to benefit in a rising rate environment.
Naeem Aslam, chief market analyst with AvaTrade...said gold is now of "less attractive interest" and that if the price remains below $1,800 an ounce, the yellow metal could be vulnerable to an "intense sell-off."
(Excerpt) Read more at cnn.com ...
Well mostly just you. 😆
Look there’s always going to be 20% of the population who never wake up. Then there’s you who are just trying to make a living in a messed up time. We get it. 😆
Non-responsive, as is usually the case.
If you like, I will provide the post where you made your claim, and then help you sit down at the table to enjoy a bowl of claim chowder.
Why do you post fake news to Free Republic?
Good question. They took the local currency if that was all a person had in order to stay within the law. But people who had dollars or euros were able to get very favorable rates. For myself, I chose to get rid of the Ukrainian currency as quickly as I could even though I had dollars. Just what you would expect. Fortunately this whole freeze didn’t last too long.
I don't think I'm in the minority on this one.
Concern trolls always be concerned. 😆
Wakey, wakey! Time to wake up. 😉
Thanks, I just stay here in reality if its all the same to you.
LOL! Not a concern troll, just calling out the fake news and zany predictions you post to FR. Deal with it!
Always so concerned. 😆
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