For the better part of the last 24 hours of trading, gold pricing has managed to trade above $1800. Gold futures traded to an intraday high today of $1815.70.

As they say in real estate, it’s all about location. Yesterday judging by how gold and U.S. equities moved, it was not so much about the statement and dot plot, but it was all about Powell’s press conference.

The Federal Reserve concluded the last FOMC meeting of the year capped off by a statement that contained a new “dot plot” which lays out their updated monetary policy through 2024.