IAU - Gold: Where Will It Go After This Record-Breaking Run? | Benzinga
Subscribers to Chart of the Week received this commentary on Sunday, April 7.
All eyes and ears are unwaveringly on Federal Reserve Chair Jerome Powell's every move, eager for any morsel of information about interest rates. This past week, Powell spoke at Stanford University, sharing the Fed will more than likely lower the benchmark interest rate in the latter-half of the calendar year. While inflation did gain traction in January and February and many investors are worried the impending presidential election would impact timing, Powell shot down the concerns, brushing them off as unworthy of continued conspiracy.
Yet on Thursday, Minneapolis Fed President Neel Kashkari noted "If we continue to see inflation moving sideways, then that would make me question whether we need to do those rate cuts at all." To further convolute the dynamic, Fed Governor Michelle Bowman on Friday went the other way, noting interest rates may have to be hiked to combat inflation. The lack of consensus from the central bank did a number on bond yields, with the 10-year Treasury yield last seen at 4.37%. The fallout ...