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Powell: “We’re not even thinking about raising interest rates ...”

edited July 29 in Other Investing
Happened to catch the Jay Powell news conference post Fed meet today. The Fed Chair seemed very downcast on prospects for the economy - perhaps more so over the high unemployment rate and some recent downward pressure on wages. Both the bond people and the gold people liked that. Why both took comfort - pray do tell - since they would seem to be dealing from opposite sides of the table. Gold tacked on about $10. Miners barely moved. VanEck Vectors Gold Miners ETF (GDX) was up fractionally. The afternoon 2-year treasury rate at .24% (last glance) is an eye-opener.

* As I noted elsewhere, I vacated my position in OPGSX today. I do expect gold to go well over $2,000 - but I don’t invest based solely on hunches.


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