The S&P 500 (SPX) is up currently by 0.61% while gold is also up by 0.79% ahead of the Fed meetings today and tomorrow. If you look back to Monday, June 3, the markets were in a bit turmoil as China Trade Talks were really picking up and there was a lot of negative sentiment about the economic data. Since then, talk has picked up dramatically about a Fed rate cut coming sooner rather than later, Mexico Trade Talks have subdued, and the China Talks seem to be taking a back seat to the potential of a dovish Fed move. Also since the opening of that Monday, the S&P 500 is up more than 6%, while Gold is up by more than 3%. We are seeing healthy skepticism in a market that is seeking safety in Gold, while also trusting the Fed’s ability to accommodate for a slowing economy.
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