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Why investing in gold a viable option in current scnario	04:56 MoneyControl.com
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Economy likely to grow by 5.5-6 pc in 2012-13:Rajan	04:46 MoneyControl.com
Economy likely to grow by 5.5-6% in 2012-13: Rajan	04:40 The Hindu Business Line - Industry & Economy
Economy likely to grow by 5.5-6% in 2012-13: Raghuram Rajan	04:36 MoneyControl.com
Nifty looks good right now; rupee main concern: Dilip Bang	04:26 MoneyControl.com
Gold firm, silver slumps	04:25 The Hindu Business Line - News
EICHENGREEN: Keep The European Union, Scrap The Euro	04:24 Business Insider - Finance
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Poland could adopt euro in 2016: presidential adviser	04:18 Daily Press, Virginia - Business
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Gold gains Rs 30 on local buying; silver falls by Rs 600	03:33 The Hindu - Markets
Gold gains Rs 30 on local buying; silver fall by Rs 600	03:30 The Economic Times - Markets
Dollar falls as fiscal cliff worries grow	03:28 Gulf News - Business
Sell MCX Gold Feb around Rs 31280-31320; SL Rs 31401: Angel	03:16 MoneyControl.com
Gold gain Rs 30 on local buying, silver fall by Rs 600	03:15 The Times of India
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Medical Devices Industry To Be A Key Catalyst For Malaysia's Economic Growth	02:18 Bernama - Malaysian National News Agency - Business
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Gold as an investment option is increasing: Amresh Acharya	02:03 The Business Standard
Forex: British Pound to Steady Amid Mixed CPI, BoE Minutes	02:00 Daily FX
Gold as an investment option increasing: Amresh Acharya	01:53 The Business Standard
ECB's supervisor role will underpin future of euro	01:52 The Irish Independent - European Business news
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Forex Analysis: Australian Dollar May Fall After "Fiscal Cliff" Deal	01:40 Daily FX
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Gold down by Rs 10 on weak demand, global trend	01:36 The Financial Express - Commodities
How an Astounding New Right-Wing Lie About the Economy Is Born	01:24 AlterNet.org - Economy
Ford talking to EPA about hybrids' fuel economy	01:12 HeraldNet, Washington - Business
Gold River businesses won't have to move after all	01:09 The Sacramento Bee, California - Business
China opens key economic work meeting	01:05 China Daily - BizChina
6 Republican Economic Myths Obama and Dems Must Stop Repeating	01:04 AlterNet.org - Economy
Treasuries Fall for Second Week Amid Inflation Concern After Fed	01:00 Bloomberg - Markets - Bonds
Gilts Decline as Reports Signal U.K. Economy Gaining Strength	00:56 Bloomberg - Europe

Gold Retreats As New Fed Accommodations Match Expectations

by Peter A. Grant

Dec 13, AM
(from USAGOLD.com) --

Gold has come under renewed selling pressure, despite yesterday's announcement of the latest Fed accommodations. Yet dips below $1700 are attracting buying interest once again.

The addition of $45 bin in outright Treasury purchases to replace Twist was widely expected. The shift in forward guidance from date-based to unemployment and inflation based was a surprise, but the guidance itself is pretty much the same. Fed central tendencies suggest the jobless rate doesn't have potential below 6.5% until 2015.

This is exactly what the calendar based guidance has been saying for some time. The FOMC says as much in the statement itself: "The Committee views these thresholds as consistent with its earlier date-based guidance." So the guidance is unchanged and the policy itself was exactly what the market was expecting.

The market is still trying to digest the implications of the shift in guidance methodology, so it's not terribly surprising to see some position squaring as a result of that uncertainty. Additionally, with year-end fast approaching there is probably some desire to lock-in profits, given the still looming uncertainty about the fiscal cliff and the debt ceiling.

While gold has been broadly consolidative this year, the longer term fundamentals remain supportive to underlying bull trend. The Fed's balance sheet has consolidated this year as well, but is now poised for further expansion toward $4 trillion. That bodes well for gold in the year ahead.

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Gold Retreats As New Fed Accommodations Match Expectations