It's a humorous headline. The Fed has ALWAYS had the ability to halt gold's rally. All it has ever had to do is the one thing it doesn't ever do - STOP PRINTING DOLLARS.
When I saw the headline, I thought for a second that I was going to read about a new Fed power preventing the private ownership of gold, or somesuch. Nawww, nothing that dramatic. Just something stupid about 'if the Fed takes no action, gold will fall.'
Oh, okay. But the Fed *will* take action. If not this week, then soon enough. I'm patient.
In fact, I am sorely tempted to buy gold right now. On any dip, I probably will.
Sept. 11, 2012, 6:01 a.m. EDT
Fed holds power to halt to halt gold rally
No move by Fed could drag gold near $1,625 an ounce
By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) — Gold and silver prices have been in rally mode as traders bet on further monetary easing by global central banks. This week’s policy decision by the U.S. Federal Reserve could bring those gains to an abrupt end.
Last week, gold futures prices /quotes/zigman/699338 GCZ2 +0.12% climbed 3.1% and silver /quotes/zigman/699341 SIZ2 -0.56% tacked on 7.2%. For the year, gold’s up around 10% and silver’s up about 20%.
“If additional Fed action does not happen, then the monetary side of gold’s story would come under pressure, risking a breakdown closer to $1,625” an ounce, said Richard Hastings, a macro strategist at Global Hunter Securities.
On Thursday, the Fed will make an announcement on monetary policy — potentially deciding on further quantitative easing, such as large purchases of bonds.
http://www.marketwatch.com/story/fed-holds-power-to-halt-gold-silver-rally-2012-09-11?dist=countdown
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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