FLASH GAGE – FED Chair Comments Ding Gold

Flash Gage - News Headlines that Impact precious metals as they happen.

FED Chair Janet Yellen is ready to testify before congress today just released this statement:

Waiting too long to raise interest rates would be “unwise” as economic growth continues and inflation rises.

Immediately as her comments were released, the price of gold sold off seven dollars.

Even so, the odds of a rate hike in March according to the CME Watch tool still stands at just 13 percent.

So with the odds that low, most economists do not expect a rate hike in March, but the Chairwoman did say that increases would be evaluated “at upcoming meetings.”

Soft support levels still stand at $1,222 in the April CME Futures contract and the next critical level is the 100-day moving spot average at $1,215.00.

Have a wonderful Tuesday.

Disclaimer: This editorial has been prepared by Walter Pehowich of Dillon Gage Metals. This document is for information and thought-provoking purposes only and does not purport to predict or forecast actual results. It is not, and should not be regarded as investment advice or as a recommendation regarding any particular security, commodity or course of action. Opinions expressed herein are current opinions as of the date appearing in this editorial only and are subject to change without notice and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, results are likely to vary substantially. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate its ability to invest for a long term especially during periods of a market downturn. No part of this editorial may be reproduced in any manner, in whole or in part, without the prior written permission of Dillon Gage Metals. This information is provided with the understanding that with respect to the opinions provided herein, that you will make your own independent decision with respect to any course of action in connection herewith and as to whether such course of action is appropriate or proper based on your own judgment, and that you are capable of understanding and assessing the merits of a course of action. You may not rely on the statements contained herein. Dillon Gage Metals shall not have any liability for any damages of any kind whatsoever relating to this editorial. You should consult your advisors with respect to these areas. By posting this editorial, you acknowledge, understand and accept this disclaimer.