krakknisse
03-18-08, 02:55 PM
Gold is down 20 USD in the scope of the last two hours, down to 980, and USD is up to 1.56. No heads up in any news channels I have access to. Except that the FOMC is pretending to be a little more concerned about inflation. Are they attempting a gold shakeout? They may not be able to do it for long, but a cheaper way could be to increase gold volatility so that J6P and new converts will be scared.
http://federalreserve.gov/newsevents/press/monetary/20080318a.htm
Inflation has been elevated, and some indicators of inflation expectations have risen. The Committee expects inflation to moderate in coming quarters, reflecting a projected leveling-out of energy and other commodity prices and an easing of pressures on resource utilization. Still, uncertainty about the inflation outlook has increased. It will be necessary to continue to monitor inflation developments carefully.
http://federalreserve.gov/newsevents/press/monetary/20080318a.htm
Inflation has been elevated, and some indicators of inflation expectations have risen. The Committee expects inflation to moderate in coming quarters, reflecting a projected leveling-out of energy and other commodity prices and an easing of pressures on resource utilization. Still, uncertainty about the inflation outlook has increased. It will be necessary to continue to monitor inflation developments carefully.