There were some hopes that a non-move by the Fed would end the current correction in precious metals and spark a move to new highs. Unfortunately, the Federal Reserve cannot override the supply and demand component of the market.
This week I attended the Denver Gold Forum along with three other U.S. Global Investors representatives, including our resident precious metals expert Ralph Aldis.
Gold's lacklustre trading since the start of summer sees $1.7 billion pulled out of top gold ETF as hedge funds slash bullish bets to lowest since May.