The gold bulls pile back in as it nears pre-FOMC levels

Gold is at the highs of the day, up $38 to $3681 which nearly brings it back to where it was trading minutes before the FOMC decision. It’s also just $20 from the all-time high.This week was a test for gold as it was hit by a somewhat hawkish Fed and higher Treasury yields. Despite that, the bulls pounded on some modest weakness and have aggressively bought today.Ultimately, I don’t think the gold bull case is about medium term Fed policy or inflation but about a breakdown in the decades-long order in trade and geopolitics.
This article was written by Adam Button at investinglive.com.

Source: investinglive.com (Read Full Article)