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Gold Drops, USD Pops As Yellen Warns “Fed Should Be Wary Of Moving Too Gradually”

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On the heels of Fed chair Janet Yellen warning of looming inflation and the need for The Fed to perhaps not move as slowly as they have suggested, gold has snapped back below $1300 (erasing North Korean risks) and the dollar is extending gains…

As Citi notes, for those hoping for hawkish comments, Yellen has certainly delivered.

“It would be imprudent to keep monetary policy on hold until inflation is back to 2 percent,”

The Fed “should also be wary of moving too gradually.”

“My colleagues and I must be ready to adjust our assessments of economic conditions and the outlook when new data warrant it”

“My colleagues and I may have misjudged the strength of the labor market, the degree to which longer-run inflation expectations are consistent with our inflation objective, or even the fundamental forces driving inflation”

And that has sent Dec rate hike odds to 78%…

And banged gold lower…

Stocks, bonds, and bullion are all sliding…

Notably so is the 5s30s yield curve…


Source: http://silveristhenew.com/2017/09/26/gold-drops-usd-pops-as-yellen-warns-fed-should-be-wary-of-moving-too-gradually/


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