Mitsubishi analysts advised that gold traders should better sit and wait before FOMC's June 16-17 meeting.
In the Bullion Daily Report, the company's analysts said:
“Once again we will see that the fiduciary brain trust has come up with
more clever verbiage in which they justify their decision to postpone
the inevitable.”
“Participate in this chicanery at your own peril. But if gold rallies,
sell it,” they add.
While they say that the market is still 'too long', there is also a three-day weekend ahead as well as first notice day for the June Comex futures.
