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Gold slips as US yields press higher following Fed decision
We not not currently believe that anyone in the professional market is at all surprised by the Fed decision to leave its Fed funds rate on hold. So, initially US yields tried to slip a bit on the news, but just as quickly lifted back again and as we write the 10 year note is not far removed from session highs, close to 5.04%.
That has rather dented gold and sent it lower again. Earlier this afternoon the metal was trying to rebound again, but had stalled a few times shy of $4,050. Please take a look at a chart of the price action and you will see what we are talking about. The reaction since has now seen the metal fall close to $4,030. It is right now at $4,032.20
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