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Gold and Silver Outlook for November 2-6
The FOMC didn’t raise rates this time, but heavily hinted of a possible liftoff in the December meeting. This news was enough to prompt selloffs of gold and silver. Even the GDP report, which showed a gain of only 1.5%, didn’t seem to have much of an impact on bullion prices. Despite these recent developments, the market is still unconvinced the Fed will raise rates this year. And if the upcoming non-farm report shows another disappointing figure, it could lower even further the odds of a hike in December – a shift that could behoove, even if for a short term, precious metals. But the NFP isn’ the only event ... (full story)