Even if the currency traders are worried about a December interest rate hike to the extent that they think it is negative to foreign currencies, gold traders do not seem to care about how an interest rate hike might impact the price of gold because the price of gold (SPDR Gold Trust ETF (NYSE:GLD)) is rising even as the probability of a December interest rate hike is rising.
Which says either gold traders do not believe those numbers and they feel that a December interest rate hike is not coming or they correctly concluded that even if the Federal Reserve does raise interest rates in December its no big deal. Its too little to late to be a negative for the gold market because the Federal Reserve is going to deliver far less than it promised when it comes to interest rate hikes.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
- ► 2017 (129)
- Why Does Wall Street Prefer Hillary Clinton?
- The Stock Market Prefers Hillary
- A Very Suspicious GDP Number
- Why Is Consumer Confidence Dropping
- Even A Tiny Rate Hike Will Damage This Bubble Econ...
- Gold, U.S. Dollar & Interest Rates
- Gold: Indian Farmers Are Buying More Gold
- The Economic Data Indicates An Incoming Recession
- We Need To Shrink The Government
- More Money Will Move Into Gold
- If The Fed Raises Interest Rates Everything Is Goi...
- Bond Yields Are Moving Up
- The Only Thing That Is Bad For Gold
- Gold: This Sell-Off Is A Buying Opportunity
- U.S. Election: Trump Won The Debate
- Gold: The False Narrative
- Forex: British Pound Flash Crash, U.S. Dollar Risk...
- Markets: Gold, Economic Recovery & Fed Policy
- The Bond Market Is Going To Blow Up
- Federal Reserve: Their Game Plan Is To Lower Rates...
- Higher Rates Will Be A Disaster For The Banks
- Why Gold Went Down 40 Dollars In One Day
- Federal Reserve: Alleged Case For An Interest Rate...
- 2017: Certainly A Recession Year
- ▼ October (24)
- ► 2015 (344)
- ► 2014 (429)