Im pretty sure that the announcemt of lowering the QE additional by 15 billion $ and the positive forecast about the economy in the second quarter year will push the price down.
Last FOMC protocol had its impact on the following day where the gold price rose from 1272 to 1320.
Maybe this time it will happen again but in the other direction.
The reason why this should happen is that the employment rate and the Non Farm Payrolls had a very positive result for June and last results in May were not very convincing and the FOMC protocol was very neutral and this led to an rise. But this time the rates were really convincing and the FOMC announced more lowering of QE and this should convince the market for a downtrend.
Last FOMC protocol had its impact on the following day where the gold price rose from 1272 to 1320.
Maybe this time it will happen again but in the other direction.
The reason why this should happen is that the employment rate and the Non Farm Payrolls had a very positive result for June and last results in May were not very convincing and the FOMC protocol was very neutral and this led to an rise. But this time the rates were really convincing and the FOMC announced more lowering of QE and this should convince the market for a downtrend.
