Loading ...“Gold under pressure ahead of the Federal Reserve announcement but according to Bloomberg Intelligence’s Mike McGlone, not much will happen. “The biggest risk from the fed is if they come out ‘very aggressive’ about further interest rate hikes which is fairly unlikely,” he told Kitco News on the sidelines of the Mines & Money conference in New York. McGlone added he is really watching the volatility index — VIX — which is trading at lows from 2007, which could suggest a reversal is in order. A higher VIX would spark safe-haven demand in gold, he explained.”
Comment: Interesting audio interview on the VIX.