Tyler Richey | Source | Co-Editor at Sevens Report Research
Tyler Richey
Co-Editor at Sevens Report Research
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The Sevens Report
Commodities Analyst -
Sevens Report Research (https://sevensreport.com/)
Co-Editor
started Sep 2013
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Gold prices post largest one-day loss since August
Gold prices drop back from a 10-month high on Thursday, suffering from their largest one-day decline since August after minutes from the Fed’s January meeting released a day earlier sounded less dovish than investors had expected.
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Gold rallied too far too fast on the dovish shift in the Fed’s tone earlier this year and became overbought into the mid $1,300s, and without the support of a weaker dollar or depressed yields, the gold bid disappeared today.
