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Everything Hangs on What Fed Chair Powell Says in Today's 10AM ET Speech

The dollar index came back as the market anticipates the Fed Chair is going to hold the pattern and say that the battle's not over; they're going to continue.

If you think this environment is worthy of a rate cut, you are - sadly - wrong. Only a dramatic change, like a catastrophe, could change things. Fed Chair Powell's speech today is huge. Don't underestimate it. 

When I look at the gold market, gold's problem is a strong dollar and a Fed that is determined to beat down inflation. 

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