FOMC and Bank of Japan may provide golden guidance: Hansen

Ole Hansen, head of commodity strategy at Saxo Bank, considers gold’s movements head of next week’s crunch central bank meetings.




There has been some weakness in gold after the selloff in stocks and bonds, says Hansen, and the rise in volatility has led to some selling pressure.




He adds that while bond yields have ticked upwards, the US dollar has weakened but has not been providing much support. He says the meetings of the FOMC and the Bank of Japan may provide some direction for gold.


http://video.saxobank.com/video/14476283/fomc-and-bank-of-japan-may-provide-golden-guidance