Gold Sill In Bear Camp Despite Bullish Rebound: Wyckoff

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Kitco News speaks with Jim Wyckoff, who provides his take on Wednesday’s FOMC minutes, Thursday’s Greek government bond auction and data coming out of China. “[The FOMC minutes] suggests that the Federal Reserve is probably going to keep interest rates very low,” he says. Wyckoff adds that this will be good for gold prices. Looking over at Europe, he says that the Greek bond auction results suggest that the marketplace perceives the country to be on sounder economic and political footing. “However…the Greek unemployment rate is still above 25% so I don’t know how healthy that economy can be with an unemployment rate like that.” Wyckoff also comments on Chinese economic data that came out overnight and suggests the news is bearish for the raw commodities sector. Tune in now to hear more and to get his market ratings for gold and silver. Kitco News, April 10, 2014.

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