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  • Bostic sees first hike in 'late 2022' and doesn't want to hike until Taper is complete. If the Fed follows the three quarter spacing timeline it would suggest roughly: Dec 2022 hike < March 2022 finish taper < any month now start taper https://t.co/j25E9vAUc1
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.94%, while traders in GBP/JPY are at opposite extremes with 73.25%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/6aDy5vbueT
  • Note: Bostic is a voter this year, but not a voter in 2022 or 2023 https://t.co/qs3RWJ2v3Z
  • - Would prefer to hold off on raising interest rates until taper is complete
  • - Does not have a strong view on whether to taper mortgages before treasuries - Does not want to be premature in pulling back bond purchases, but market is functioning now
  • - Close to meeting substantial further progress standard to start bond tapering, appropriate to begin debate
  • Fed's Bostic - States that given upside surprises has brought forward first rate increase to late 2022 and sees two additional 25bps rate increases in 2023
  • EUR/USD trades to a fresh weekly high (1.1955) as Fed Chairman Jerome Powell strikes a dovish forward guidance in front of US lawmakers. Get your $EURUSD market update from @DavidJSong here:https://t.co/pPmPVw0ZZH https://t.co/VKZRCOsa6Z
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 1.32% Oil - US Crude: 1.02% Gold: 0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/rhpTpTedws
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.47% 🇦🇺AUD: 0.42% 🇬🇧GBP: 0.20% 🇨🇭CHF: 0.10% 🇪🇺EUR: 0.05% 🇯🇵JPY: -0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/bxpFXTKKxE
Gold Sees 4th Largest Monthly Gain Since 2000

Gold Sees 4th Largest Monthly Gain Since 2000

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gold_body_gold.png, Gold Sees 4th Largest Monthly Gain Since 2000

Prepared by Jamie Saettele, CMT

January’s rally was the 4th largest since 2000 and largest since August (2011). Of course, the metal plunged the following month (September). One has to go back to November 2009 to find the next best month (13.21%). Guess what? Gold plunged in December 2009. The December high at 1770.50 is the next resistance. A drop under 1727 would shift focus to 1717 and 1706.

Bottom Line – flat

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