The gold futures contract lost 0.32% on Wednesday, as it further extended its short-term consolidation. The market gave back almost all of December’s advance recently. Last week gold retraced some of that decline. But the market stalled at $1,850 level, as we can see on the daily chart ( the chart includes today’s intraday data ):
GoldSo precious metals are slightly lower this morning.
Yesterday’s FOMC Statement release didn’t bring much volatility in precious metals. However, the stock market sold off sharply. Today we will get the Advance GDP number release, among others.
Where would the price of gold go following Wednesday’s FOMC release? We’ve compiled the data since January of 2017, a 48-month-long period of time that contains of thirty three FOMC releases. The following chart shows average gold price path before and after the FOMC releases for the past 48 months and 33 releases. The market was usually declining ahead of the FOMC day. Then it was going up for a week-long period. We can see that on average, gold price was 0.48% higher 10 days after the FOMC Statement announcement.
Below you will find our Gold
Thursday, January 28
Friday, January 29
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All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.