Precious metals have found strong support over the past couple of days, with gold surging back to $1,340 per ounce and silver to $20.00 per troy ounce. The U.S. dollar has weakened while benchmark government bond yields have fallen across the board once again.
This is the week we’ve all been waiting for. This is where the Fed meets the seasonal change point. For those of you that don’t know or didn’t quite realize it, all financial markets tend to change direction at or very close to the change of the season. Throw in a Fed meeting and it becomes more interesting. Throw in a Fed meeting in the traditional graveyard for stocks (September) and it becomes even juicer. Add a presidential election and it could be a September to remember.