The Gold Outlook

A golden path has just been paved for gold investors, but it is full of obstacles. The Federal Reserve’s decision to hold off on interest rate liftoff, with all indications pointing toward non-action at least until December and possibly longer in my opinion, is highly supportive to gold (NYSE: GLD). Gold would be poised to move higher as a result of the removal of the dollar block against it. (article authored 9-21) But be careful betting on it at the start of this week, as anticipation of potential ECB action could set a short-term speed bump. I see hope in ECB action eventually finding letdown, and gold benefiting again from that and intensifying concern about a potential government shutdown in the U.S. Thereafter, though, investors will begin propping up the dollar and penalizing gold on October Fed meeting worry. The next month, therefore, is a complex one for gold. See the full report on the gold outlook here.

Article interests SPDR Gold Trust (NYSE: GLD), iShares Silver Trust (NYSE: SLV), Direxion Daily Gold Miners Bull 3X (NYSE: NUGT). Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.