Gold sniffs $1,300 after FOMC meeting

|By:, SA News Editor

Now up about $30 per ounce since the FOMC announcement, updated Fed economic projections, and Yellen press conference yesterday, gold is just cents away from $1,300.

Peter Boockvar notes the Fed may be ignoring recent warming inflation data (when pressed on the fast numbers, Yellen called them "noisy"), but gold may not be. In any case - with just 3 FOMC meetings to go until QE is over and rate hike discussions start in earnest - markets will have to keep a close watch on inflation figures in addition to labor market indicators.

GLD +1.8%, SLV +2.3%

ETFs: GLD, SLV, AGQ, IAU, USLV, SIVR, ZSL, SGOL, UGL, DGP, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, DGL, DBS, DGZ, DGLD, AGOL, OUNZ, TBAR, USV, UBG, GYEN, GLDE, GLDS, GLDL, GEUR, GGBP

Earlier coverage of FOMC/Yellen