Gold Holds Positive Turf January 30, 2019 Federal Reserve meeting wraps up today with no change in interest rates expected. Investors will be anxious to hear what the Fed President has to say at the press conference after the 2 pm ET announcement of their rate decision. The main topic the reporters will be asking about is the Fed’s plan to reduce the balance sheet. Will they proceed or will it be put on hold? The price of gold is holding on to positive territory this morning as geopolitical risks are still in the headlines. Brexit negotiations are still going with no agreement in sight. Venezuela is another hot spot that needs to be watched. China trade talks are kicking off this morning when U.S. officials meet with their Chinese counterparts as the March 1st deadline nears. Giving the Dow Industrial Average a boost this morning are strong corporate earnings. Boeing, a Dow component, reported better than expected earnings and guidance, including a better than anticipated delivery of up to 905 jets this year. Apple’s better than expected numbers last night lifted the Dow Industrial average up over 200 points before the 9:30 opening. With strong corporate earnings in the headlines I expect the price of Gold to be under a little price pressure today. Overnight, Gold ETF inflows increased as more and more investors jumped in, continuing to diversify their portfolios. Palladium, the darling of commodity Hedge funds of late, is running out of gas as the open interest In the exchanges March most active Future contract has dropped from almost 25,000 contracts a short time ago to 21,365 contracts, where it stands today. Have a wonderful Wednesday. Disclaimer: This editorial has been prepared by Walter Pehowich of Dillon Gage Metals for information and thought-provoking purposes only and does not purport to predict or forecast actual results. This editorial opinion is not to be construed as investment advice or as a recommendation regarding any particular security, commodity or course of action. Opinions expressed herein cannot be attributable to Dillon Gage. Reasonable people may disagree about the events discussed or opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, results are likely to vary substantially. It is not a solicitation or advice to make any exchange in commodities, securities or other financial instruments. 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. Dillon Gage Metals shall not have any liability for any damages of any kind whatsoever relating to this editorial. You should consult your advisers with respect to these areas. By posting this editorial, you acknowledge, understand and accept this disclaimer.