Why The Softness In Gold? - Adrian Day Chimes In

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Why The Softness In Gold? - Adrian Day Chimes In

Postby Gold Silver » 06 May 2017


Gold prices traded at six-week lows Thursday, and according to veteran gold expert Adrian Day, the metal is "soft" as a result of the latest Federal Open Market Committee announcement. “The Fed is saying that the economy is stronger than it appears,” he told Kitco News at the Mines & Money event in New York. On Wednesday, the Federal Reserve left rates unchanged but still hinted at a rate hike in June. “This is certainly putting gold under pressure, but gold has had a good rally since Trump was elected.” Gold has fallen under pressure just ahead of Friday’s big U.S. jobs report and the second round of French elections on Sunday.

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