massively gold positive ...

Aug. 6 (Bloomberg) -- Federal Reserve policy makers indicated that interest rates won't budge until next year as they wait for the credit crisis to abate and inflation to ease.

The central bank, which left its benchmark rate at 2 percent yesterday, said ``downside risks to growth remain,'' dropping a reference in June's statement to ``diminished'' dangers. The Fed also said price increases are of ``significant concern.''

The tweaks to the Federal Open Market Committee's statement signal that Chairman Ben S. Bernanke and his team want to avoid an early rate increase that further weakens employment and fuels instability in financial markets, economists said.

``They don't want to rock boats,'' said former Fed governor Lyle Gramley, now senior economic adviser at Stanford Group Co. in Washington. ``They want to remind people that their concern for inflation is genuine, but they have no intention of doing anything about it right away.''

Full article at http://www.bloomberg.com/apps/news?pid=20601087&sid=aLdR6qgl08_o&refer=home

Now is the time to nibble away at some massively oversold gold shares imo. Remember, August is also usually the month for a seasonal low in gold and then gold takes off.