The FED is holding pat with low interest rates and $85 billion a month of printed money to buy treasury debt bonds, bad mortgages and whatever other debts and junk products. But the general market players won't respond to the good precious metals news today as if not reacting to what the FED says or does, especially as regards to positives to gold metal and gold stocks news.
Look for Friday and especially monday for gold metal and gold stocks (& precious metals/stocks) to start to turn around for a run, and then probably sell off when the renewed debt ceiling debate starts in earnest again in early april to I believe a decision by late april early May.
'U.S. Stocks Fall as Fed Maintains Plan as Economy Shrinks'
"Fed Chairman Ben S. Bernanke has unleashed the power of the central bank to buy unlimited amounts of Treasury and mortgage- backed securities in a bid to end a four-year long period of unemployment above 7.5 percent and bolster the economy. The central bank said today it will keep purchasing securities at the rate of $85 billion a month as the economy paused because of temporary forces including bad weather.
“I do not think this is a surprise to anyone,” Randy Bateman, chief investment officer of Huntington Asset Advisors in Columbus, Ohio, said in a telephone interview. His firm oversees $15 billion. “There have been speculations that the Fed will openly come to the end of this liquidity cycle. I don’t see that changing. It’s still more of status quo.”"