Comments: Obviously a lot depends today on the market's reaction to the Fed rate decision and especially the comments. The Fed will likely leave rates unchanged, which may be enough for a bounce in Gold. However, on the negative side for Gold, the Fed will also likely point to recent inflation data which has shown only mild to moderate inflation, in an attempt to convince the market that their claim of a slowing economy leading to lower inflation is right. If traders are convinced by that argument, the HUI uptrend will surely be broken either today or tomorrow (sometimes it takes a full day to process the Fed statement).
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