April 28, 2021

Gold is trading at $1,782.00, up a few dollars since today’s expected Fed decision to leave rates unchanged and its subsequent press conference.  The Fed stressed its commitment to continued aid and warned that inflation is likely coming, however, much of it would be temporary in nature due to ongoing supply chain kinks and the faulty nature of comparing traditional YoY inflation indicators with many of the world’s economies shut down much of last year. Stocks were fairly flat today as investors awaited the Fed’s announcement but dipped after the Fed brushed off current inflation indicators as a result of the pandemic. The Dow closed 165 points in the red while the Nasdaq and S&P 500 dropped 0.3% and 0.1% respectively.