from Silver Doctors:

Watch Powell’s presser live right here at 2:30 p.m. EST, see the replay if you’re reading this at a later time, and come on in for an update regardless…

Going into today’s FOMC statement release and the Fed’s interest rate decision, the CME Group was putting the probability of a rate hike at .5%:

For quite some time now, the probably has been certain, or nearly certain, that the Fed would hold.

And hold they did.

From Bloomberg:

The Federal Reserve said it will be “patient” on any future interest-rate moves and signaled flexibility on the path for reducing its balance sheet, in a substantial pivot away from its bias just last month toward higher borrowing costs.

 The Federal Open Market Committee “will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support” a strong labor market and inflation near 2 percent, the central bank said in a statement Wednesday following a two-day meeting in Washington.

It’s ironic really, because January was what, the best stock month for stocks, like ever?

Now I’m exaggerating because I actually don’t know how the stock market performance this January compares with other Januaries, but this one is certainly up there as one of the best Januaries ever, if not the best.

I just don’t know ’cause I ain’t done the stinkin’ research.

Yet we have a Fed that is on hold.

What a freakin’ circus side-show mixed in with a circle-jerk but without the common courtesy of handing out some circus peanuts.

But I digress.

Here’s gold & silver the moment the news “hit the tape”:

Remember, knee-jerk reactions are not always the actual direction of the eventual move, so we’ll just have to see.

I think that no matter what happens with the Fed Funds Rate going forward, holds, cuts, or increases from here on out, however, it will all be bullish for gold & silver.

Why?

Here’s the thing: If they hold rates steady because they’re dependent on the incoming data, as they lieclaim they are, well, holding is an indication of weakness somewhere in the US economy, which would be dollar negative and good for gold & silver.

Here’s the other thing: If they cut rates, well, that’s debasement of the currency with easy money policy, and that’s good for gold & silver.

Here’s the final thing: If they hike, they’re trying to get in front of inflation, and that’s good for gold & silver because gold & silver are inflation hedges.

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