Gold slumps ahead of Fed Statement
- •My wife keeps teasing me about my "shiny rock" collection, but hey, it's outperformed some of my tech stocks lately!
- •On one hand, it could just be typical pre-announcement jitters and some profit-taking.
- •On the other hand, if the Fed signals something really hawkish, you wonder if it'll put more sustained pressure on precious metals.
Hey everyone, just stumbled on this article about gold dipping ahead of the Fed statement: https://dillongage.com/blog/gold-slumps-ahead-of-fed-statement/
Kinda interesting timing, right? I mean, we all usually expect a bit of volatility around Fed announcements, but seeing gold, which for me has always been a pretty reliable hedge, take a hit like this makes you think. I've been slowly increasing my gold allocation over the past couple of years, mostly as a little insurance for my retirement portfolio, especially with all the inflation talk. My wife keeps teasing me about my "shiny rock" collection, but hey, it's outperformed some of my tech stocks lately!
On one hand, it could just be typical pre-announcement jitters and some profit-taking. On the other hand, if the Fed signals something really hawkish, you wonder if it'll put more sustained pressure on precious metals. I'm not super worried right now, my long-term view on gold hasn't really changed, but it does make me pause and re-evaluate my entry points if I was looking to add more. What are you guys thinking? Is this just noise, or a sign of things to come for gold?