The Federal Reserve’s monetary policies are still the most important drivers of gold prices, this according to Adrian Day, CEO of Adrian Day Asset Management.
“To me, one of the most important things, frankly, is the way the Federal Reserve has acted recently. When they saw the stock market volatility at the end of the last quarter, they blinked, and ‘blink’ is a polite way of putting it. I think they capitulated. And that is very, very positive for gold,” Day told Kitco News on the sidelines of the Gold Stock Analyst Investor day.