Wait or Make a Move? The Fed and Gold Prices

The FOMC announcement tomorrow afternoon could send gold to new highs. [Jeff Clark's Market Minute]( Wait or Make a Move? The Fed and Gold Prices By Jeff Clark, editor, Market Minute The FOMC announcement tomorrow afternoon could send gold to new highs. Of course, this shouldn’t come as a surprise. The price of gold is often volatile around Fed days. For example, gold spiked $60/oz. right after the FOMC meeting in July. After the June meeting, it dropped $48 in two days. And after rallying $50/oz. In the days prior to the meeting in May, gold spent the next two weeks losing more than $100/oz. But here’s why this week’s meeting could trigger a larger-than-average move… First, take a look at this chart… [(Click here to expand image)]( Similar to the chart of the S&P 500 we looked at [last Thursday]( gold is forming a “consolidating triangle” pattern. This happens as the price makes a series of lower highs and higher lows. All the moving averages have coiled together. And all the momentum indicators at the bottom of the chart are in neutral territory. Energy is building for gold to make a big move. Recommended Link [Man who Predicted “End of Cash” Issues New Warning for September 20th]( [image]( In 2016, former banking VP Teeka Tiwari warned: “A ban on cash is coming sooner than you think...and when it does, it will strip you bare of any privacy.” His prediction is finally coming true, and if you don’t prepare by [September 20th]( You could end up holding a bunch of worthless US dollars. [Click here to see this shocking new video exposing the government’s plan to recall the US dollar and learn how to prepare.]( -- How big? Based on the height of the triangle pattern, gold could move as much as $150/oz. higher or lower. In the days ahead, gold could be trading at new highs near $2,100/oz., or it could tumble back down towards the March low near $1,800. Just like the S&P 500 chart, though, there is no edge to either side at the moment. Betting on the direction at this point is like betting on a coin flip. Most traders are probably better off waiting for gold to break out of its consolidating triangle – making either a move above $1,975 or below $1,925. Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. One way or another, though, the FOMC announcement on Wednesday is shaping up to be a pivotal event for both the broad stock market and for gold. Best regards and good trading, [Signature] Jeff Clark READER MAILBAG Will you be closely following the FOMC decisions? Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com. IN CASE YOU MISSED IT… [The One Ticker Retirement Plan]( Over the Shoulder Demo Now Available Market Wizard Larry Benedict crushed the market in 2022. But he didn't do it with a “traditional” method… For a limited time, he’s sharing a free over-the-shoulder “demo” of his strategy in action. It takes less than 10 seconds… [Watch it here.]( [image]( [Jeff Clark's Market Minute]( Jeff Clark Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.jeffclarktrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Jeff Clark Trader welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-800-752-0820, Mon–Fri, 9am–7pm ET, or email us [here](mailto:contactus@jeffclarktrader.com). © 2023 Omnia Research, LLC. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Omnia Research, LLC. [Privacy Policy]( | [Terms of Use](