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All Eyes On The Fed

Blair31 Wrote: Sep 01, 2012 12:43 PM
The Fed doesn't know jack.

By the time you read this the Fed minutes will be old news, but right now prices are heading up in advance of Bernanke’s speech, scheduled for 10 am EST. 

Gold was up $4.32 to $1,659.34 in early trading and silver up $0.21 to $30.58, for a silver/gold ratio of 54.3. 

While gold is up this morning, it’s not for the reasons you might think.  A few of these may be last minute bets on the Fed Chairman’s comments, but it’s mainly an adjustment to currency valuations.  The dollar is down in advance of the Fed meeting, to me...