Jay Powell signaled today that interest rates will remain at 0% until 2023. Fed's forecast of real rates went from -1.1% to -1.9% in 2023. Powell also signaled that the Fed will keep adding to its balance sheet at at least the current rate. His economic forecast was fairly negative, overall. This is likely all pretty bullish for precious metals. In technical terms, gold has volume profile support, has been making a bullish MACD divergence on the histogram and is in the process of making a bullish MACD cross, and also made a bullish trend line cross earlier this week. RSI is above 50. I bought a GLD call here because I think it's about time.
