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Gold jumps as Fed brings forward the timing of the first rate cut

There have been many immediate reactions to the surprise dot plot plan revision by the Fed this evening and outside of the dollar getting whacked, Gold has taken advantage of the news and lifted as the USD/JPY falls sharply. Gold spiked to just above $2,000 on this news and it is not backing off much yet either. This rebound has also been helped by a corresponding fall in US yields, which is really helping to underpin the move. The US 2 Year yield is now lower by around 0.18% following this move. Gold has just now risen to a high at $2,004.86. It is currently trading at $2,003.65
 

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