Gold Price News and Forecast: XAU/USD slips to 11-day low as risk assets draw bids
Fighting the Fed (and the Crooked Banks) by Holding Gold
Market forecaster Martin Zweig famously warned investors against underestimating the power of the Federal Reserve Bank to control markets. He coined the phrase “Don’t fight the Fed” back in the 80’s. Precious metals investors are wondering if this is still good advice.
On one hand, it is pretty hard to argue with that bit of wisdom. The Fed Zweig was referencing had begun taking a more overt role in markets, using interest rates as a tool for managing the economy.
Gold slips to 11-day low as risk assets draw bids
Gold continues to lose altitude amid increased demand for risk assets.At press time, the yellow metal is trading at $1,537 per Oz, the lowest level since Jan. 3. Prices are currently down nearly 4.6% from the six-year high of $1,611 reached last week.
The yellow metal is losing altitude amid the uptick in the risky assets. The futures on the S&P 500 are currently reporting a 0.10% gain, meaning the index is likely to open Tuesday on a positive, having hit fresh record highs on Monday.
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FXStreet Team
FXStreet
