There was very little change in the Fed statement. A hike is expected in December and more in 2019.
Gold initially spiked higher – then lower, and prices are back to where they started (currently $1225). Gold would have to drop below $1223 and then $1218 to support a near-term breakdown. Rallying above $1230 would recommend more of an upward bias.
Like gold, miners moved higher then lower after the announcement. We should know which way prices are headed within the hour. I’ll update again around 3:30 PM.