Gold and silver have both been flat this morning, as the market awaits the Fed’s interest rate announcement at 2 PM Eastern. Where another 25 basis point interest rate hike is largely expected, with many market participants feeling this will be the last hike, and some suggesting that the Fed will signal some form of a pivot.
So it’s not surprising to see the early trading being so level, as there’s a lot of uncertainty around just exactly what Jerome Powell and the Fed will say. The recent banking issues in the US and abroad have left many concerned about the impact the rate hikes are having on the banks. Yet at the same time, inflation is still elevated, which leaves the Fed in a rather precarious situation.
However, while the Fed has to be taking notice of the recent turmoil, I personally don’t expect them to be signaling any overt form of pivot today (although how the market reads the tea leaves may be a different story). And in today’s video I share what I expect will happen, along with some of the other recent gold and silver news that you’ll want to keep an eye on.
So to be prepared before the Fed’s announcement later this afternoon, click to watch this video now!