Today is the day the Fed “most probably” will raise interest rates. Gone, for a while at least, are ultra-cheap mortgages and car loans. Anticipating this rate, banks and lending agencies around the country have been raising their rates for over a month now. Gold has dropped enough to qualify as an actual correction.
So the pump is primed. Will they do it? Find out at 2PM Eastern time today!
In the meantime, traders are in waiting mode. Very little action this morning. Expect a HUGE flurry of activity starting about 1:45, because apparently no one can keep a secret.