According to this chart, which I really like, Gold is about to break up. Now of course much of that depends on what the FED has to say today at 2pm HOWEVER I don’t believe any new rate hikes are coming soon. In fact, I believe the next rate hike will be in December 2017. The FED has a pattern now. BLUFF, BLUFF, BLUFF, RAISE and then repeat the year after. Just one raise per year is all they can really do, the rest of what they do is “Fluff & Bluff”.
The U.S. dollar extended gains after stronger-than-expected manufacturing data on Tuesday. The dollar index is now sitting at its highest level in more than 14 years. The index is touching levels not seen since December 2002 according to FactSet data.
Jeeze… I wonder what will happen now…. Hmmmm…..