Gonna be interesting to see what the Fed does with this in a few minutes. This morning the Commerce Department announced that the U.S. economy grew at a 4% annual rate in the second quarter.
The Fed will almost certainly leave its benchmark rate alone on Wednesday but good luck in explaining when the first rate increase might take place
A big drop in gold demand from China is acting as a counter-cyclical brake on the move that has seen gold prices climb 8% in 2014. This year gold demand from China is off by nearly 20% in the first six months of 2014 from the first six months of 2013