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goldsilverworlds.com / January 29, 2014
The US Fed released its January statement earlier today. The decisions appear to be almost identical to the ones taken in December. Stocks and the dollar suffered on the news release, gold and US Treasuries closed (slightly) higher on the day. Mind that both stocks and gold are at critical junctures, as we show on the charts below.
From Futures Mag:
The FOMC voted unanimously, and we don’t recall off hand the last time that happened, to reduce purchases by $10 billion to $65 billion per month and promises to maintain the same pace of reduction assuming progress is being made to its dual labor-inflation mandate. In December Eric Rosengren voted against, claiming that the rate of unemployment was too high and that to taper at the time would prove counter-productive.
