FOMC Statement

The most worst effect on gold will be if North Korea discovers a deposit on its home soil with several kilo-tonnes of potentially recoverable gold.

The same old dog and pony show => describe the economy, bad but slowly improving.

Lots of "statutory mandate", (mandate's mentioned twice), "highly accommodative" rates thru the end of 2014, more Operatioin Twist in bonds, and, get this, "...maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities."

In other words, it's taking the money it receives from it's bond holdings and toxic mortgages and buying more toxic mortgages from the big banks. How does it pay for it's bonds and toxic mortgages? It prints it! ;^)

It looks like they plan to buy all the bad mortgages that the big banks (their shareholders) wrote during the RE bubble until the FED holds all the bad mortgages itself. It's going to own a big chunk of the U.S. housing market!

Of course, the FED can write these off in time and cover their losses by printing more money! LOL

What a mandate! I need one of those! ;^D

Easing will probably come next year because by then the banks, the soverigns and the public are likely to be in real trouble, as in debt bubble, if the economy hasn't miraculously recovered. The threat of the election will be over, and all the big banks will be ready for another shot of QE in the arm.

So, it's keeping it's powder dry for now, and waiting for the economy to bounce along until easing seems justified.

Besides, Ben has discovered that just mentioning QE indirectly gets the results the wants - keeping the stocks elevated above their real value, keeping a lid on the price of gold, and keeping the USD, JPY, and CHF from getting too strong.

BTW Benny and the FED's only "mandate" is to help the bankster FED shareholders with all the bad bets that they've made (and any they make in the future!) ;^D

Just in case you missed it, here's the clear evidence of fact that the price of gold is strictly controlled within set limits by the central banks of the world: http://www.zerohedge.com/news/fed-gold-price-manipulation

Just figure out how they do it, and you can be on the right side of a great trade! ;^)

"Don't fight the FED!" should be changed to "Get in bed with the FED and get fed!" Something feels really sleazy about that, though, doesn't it? ;^D

Excellent video! Tks!

The only part I hadn't given enough thought to was the effect of dumping cash into the system, benefitting only those who were part of the process (banks, of course) and the first users of the currency, who escaped the increase in prices that everyone else has to contend with.

Maloney is a very astute observer.

Curious as to why holding til next week no matter what (is it just until after ECB?) Also curious as to what your target level is?

I believe you should wait now. although the price of gold did move substantially, you should still wait for ECB news tomorrow. IMO

Why people waiting for miracle - QE? Feds confirmed - no QE on many meetings. Last breath for US dollar imo

awesum!

Let's wait ECB tomorow

Goes South for the time being

Not more than this As USD is over bought, and in very near future Gold will go North, if it crosses 1640

Bloomberg TV

2nd part of this horror picture will be due tomorrow lol

no cting from FED, time to buy, nothing good for USD, ECB will act tomorrow

Thanks Ben. For giving back my lost pips. Still holding short of AU. No matter what will hold till next week or target hit.

lol.....pls someone should stop this usd rise....

hoepfully good news tomorrow for Eur for the markets sake.

gotta love the forex market.

Wait for the usual intervention to stop the rise in the USD to occur.
Let the range traders stops build up.
If they get taken out then the USD will continue to rise. If not then this is it for today.

Dear Dr.Zain, The horror is due for everyone who spoted the reversals on CAD short (clear divergence plus today's low test after a pretty attractive small bar yesterday); EUR short from last Friday's high test, AUD short (at the top of a clear ascending chanel); and... why not?... NZD short as AUD was going down anyway! And as long as we're at it... JPY long just for the fun of trading a breakout from a clear Horizontal level! For those I recomend a serious dose of tranquilizers for the next 2 days! Horse tranquilizers I mean!!

easy to predict...

Next : Draghi

I find this report more dovish for the dollar to be honest....

But wait people... The language changed from "prepare to act" to "going to act" if things deteriorate... Gold was a quick good sell... thursday: Draghi and friday: the job numbers

gold jump

here come 100 short..

hmm, ECB still got bullet for play the market?

you right

http://goldsilver.com/video/maloney-tears-bernanke-a-new-one-gold-and-silver/?

here is the truth

go go go usdddddddddddddd

so no QE3 at the moment?

Nothing to shake the world. Just those who thought easing was imminent are on the wrong side.

it's all lies and smoke and mirrors anyway ben should be in prison if there was a god

USD how long up ?? more than this ?

and there goes my 35 dollars

as i predicted

teh FED will not embark on any QE untill the US presidential elections are finished

lesson learnt read the report before you act basing on the market moves

FOMC statement helped the $.

Champions, is it good time to buy gold?

what will be effect on gold market

Dovish. All in the context of a Fed that kicks the USD whenever possible. This is about as Bullish as the Fed has been in quite some time.

Mangstabs....

What will be the most worst effect on gold,?

Long live the reversals!! 2nd part - Thursday - Dragi's Strikeback; 3rd part - The NFP does it again!! You just gotta love this... Unless you are actually trading it! lol

jmoutinho
Great sense of humor, am still laughing.

I aim to please! Total agreement on your previous comment too. Keep it up foto!

Now is Draghi turn (:. Do nothing, just say more empty words

All I read was... 60k jobs on friday means markets will be pumped! Let's hope the americans are out of work.

any info from u genius,s on the the AUDUSD...LONG OR SHORT bekitzur

haha . No QE3.

wad it says?
anyone help?

Why did UsdJpy just shoot up?

usd s nt gonna shoot up so soon...is just a momentary reaction.....

Thursday :

Gold : 1668.88
Silver :28.60

Upcoming AUD never had much impact.
LONG.

friends, the news is given and scheduled according to Elliott Wave ... worldwide and throughout the history of this news probavilidad melt according to the theory elliott