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The Federal Reserve’s endless machinations really affect the gold price, sometimes confounding traders with seeming illogicalness. This week the Fed cut rates again, which has really boosted gold in the past. Yet it plunged 1.7% in less than an hour after this latest decision! While gold’s Fed reactions often look capricious, there’s a method to this madness. Traders need to understand why gold moves on Fed actions.
The day before this Wednesday’s latest policy decision by the Fed’s Federal Open Market Committee, I warned our weekly-newsletter subscribers about the downside risks to gold (GLD