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.