Gold remained fairly stable as the release of the FOMC minutes brought no shocks with it. The exceptionally low stance for an extended period remained in place, soothing trader's fears that we may have seen some changes. With Australia raising rates, it may be the first of the many to start raising rates over the coming months.
Gold & Silver
- The Bank of Japan voted unanimously to leave interest rates unchanged this morning at 0.1% and promised extremely accommodative policies in the future
- A number of Federal Reserve members are scheduled to speak today, including Chairman Ben Bernanke in Texas this afternoon.
- Currency traders should note that interest rate decisions are scheduled to be released tomorrow for the UK and the Eurozone
- The US Dollar rose as speculation about further Greek woes spread through the market
Major Economic News
US CONSUMER CREDIT