The gold market is looking for Fed consensus, but ‘the FOMC is as uncertain as the war’ – Phoenix’s Grady

(Kitco News) – Precious metals and the broader markets are risk-off as they await the Federal Reserve’s interest rate decision on Wednesday, but the uncertainty surrounding the Iran war could mean the Fed fails to deliver that clarity once again, according to Kevin Grady, president of Phoenix Futures and Options.Grady told Kitco News on Friday that with oil prices, yields, rate expectations and equities all unsettled, the smart money is still sitting on the sidelines.