Loading ...Gold began to rally quietly going into its Comex close. But then the DOW and DOG began to get trashed and gold managed to blow through $1200, rising quickly to $1209. Silver was dragged along and caught bids too, rising to $16.41. The moves appeared to be technical in nature although some point to these comments…
14:00 Atlanta Fed President Lockhart tells media ‘not in a rush’ to drop ‘considerable time’ phrase from FOMC statement
Additional headlines note Lockhart as telling the audience it would not want a change in the wording to be seen as a signal a hike in rates was imminent, and also notes that liftoff is not ‘carved in stone’ if inflation and inlfation expectation are low.
Lockhart’s comments to the media following his prepared remarks earlier seem echo the data dependent nature of current Fed policy