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OK, so the Fed has spoken. And gold prices today are still reacting to the Fed’s statements.
There was no September Fed rate hike, which was pretty much expected. On that news, the dollar tanked and precious metals soared.
The U. S. Dollar Index (DXY) was down from its pre-announcement peak near 96.40 Wednesday morning to 95.07 by Thursday morning. That’s a more than 125-basis-point swing in just over 24 hours, and a testament to the rising volatility surrounding some of the most important benchmarks.
This post was published at Wall Street Examiner by Peter Krauth ‘ September 23, 2016.