Disappointing that the US equities opened strong then petered away infecting gold bulls. I don't know what triggered the sudden sell off in US
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Stocks tumbled into the close following the release of minutes from the latest Federal Open Market Committee meeting in December, which revealed a more hawkish tone by Fed officials grappling with taming what some have described as 1980s-like levels of inflation.
Minutes revealed robust talk among some Fed officials around the central bank potentially moving to raise rates quicker and cutting its current $8.8 trillion sized balance sheet faster than earlier anticipated to help tackle higher costs of living.
The market reaction to talk of faster-paced steps toward policy normalization surprised some on Wall Street. “It was maybe confirming what people had worried about previously, and now it’s out there in black and white, on paper, for everyone to see,” said John Carey, director for equity income at Amundi U.S., by phone.
“You can’t doubt it’s going to happen at this point. That reality is sinking in
