The Federal Reserve wants to let inflation run. Gold's trend is up, but if the market wants to back-off a little bit, $1,782 area is the big initial support.
I’ve been suggesting for some time now that the PM complex is trading at a critical inflection point where they can have a big move in either direction.
The market looked at the speech as very dovish -- absolutely no hurry to raise interest rates and tapering is not linked to raising interest rates. All the metals take off..