Kinesis

Gold price remains near $1,800 following 3.8% drop in U.S. pending home sales The gold market remains solidly in negative territory and can’t find any bullish traction even as fewer U.S. consumers start the process of buying a home, according to the latest data from National Association of Realtors (NAR). U.S. pending home sales dropped 3.8% in December, following November’s drop of 2.2%, the NAR said on Thursday. The data was much worse than expected as consensus forecasts called for…

Gold is hit hard even though the Fed's updated monetary policy came in as expected The FOMC meeting concluded today and as many expected, extreme volatility came into both the U.S. equities markets as well as gold. What was unexpected was the statement released by the Federal Reserve and how gold reacted to their updated monetary policy. Clearly, market participants had not factored in analysts' and economists' consensus of the outcome. The expectations were that interest rates would remain where…