A Gold Trading Idea
Yesterday’s FOMC was bullish for most assets, as the FED indicated it was not ready to beginning raising rates. The FED’s ZIRP policy, designed primarily to encourage lending and speculative asset purchases, is clearly here to stay for a while longer. But for gold, this policy has done little for it over the past 3 years, as speculative money is much more concerned with chasing equity and bond markets higher.