Hourly Action In Gold From Trader Dan

If the FED wanted to give the Dollar the kiss of death with yesterday’s FOMC release, they certainly managed to accomplish their task. It continued its descent which began as soon as the statement hit the wires yesterday and has not looked back since. As it has done so, it has resulted in once again another huge inflow of funny money into the commodity sector in an exact replay of what was occurring in early 2008. There were very few individual commodities that were lower today as billions more were jammed into hard assets in an attempt to shield wealth from the depredations of a currency that has broken through support levels in a manner that is frightening for its intensity. Cotton in particular is on an awesome tear into the stratosphere. Get ready to see the price of your cotton clothing moving higher at the retail stores soon.

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