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Originally Posted by GFED
fuck me... didn't even stall...
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Yeah well its been pushed down by false expectations for so long and demand has been really strong so it doesn't surprise me that upside pressure is quite high. You obviously watched yesterday's action with the same interest as I did because whenever the FED opens their mouth, doves fly out
The talk on negative interest rates has increased significantly and Janet Yellen addressed it last night. Also even though she said "FED is not likely to reverse course on interest rate rises" gold went up proving that the market doesn't believe her. You also have this thing about the banks selling off worse than 2008 crisis, causing a lot of fear in the markets.
So I think it might keep rising well into the summer (if markets continue to sell off) and then Gold sells off at year end instead when usually it would rise.