Yellow Metal Investors Once Again Turn Attention to Fed In a February 28, 2017 speech widely regarded by analysts as heavy on rhetoric but light on substance, United States President Donald J. Trump reiterated the campaign promises that brought him to power without offering any plans for how or when he would deliver them. What was billed as a policy speech to lawmakers of both Republican-dominated Houses came up devoid of any specifics and had virtually no effect on metal or currency prices or the markets in general. The Congressional address coincided with a three-day dip in gold prices but these marginal declines are directly attributed to the imminent decision of the U.S. Federal Reserve on interest rates. Market expectations of a rate hike have risen to anywhere from 50% to over 80% when the Fed’s Open Market Committee sits in mid-March. It is also scheduled to present a Summary of Economic Projections but there was precious little in Mr. Trump’s remarks that coul...
from GoldBroker.com https://www.goldbroker.com/news/trump-address-to-congress-blip-on-gold-price-1089
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