"I think the markets seriously overreacted to the FOMC meeting last week" says George Milling-Stanley of State Street Global Advisors. He says stocks have already recovered and is hoping that gold (/GC) will do the same. He points out the potential rate increase is still two years away and that the Fed is still saying inflation is transitory. George thinks gold helps reduce risk in a portfolio and in time it will deliver reasonable returns, improving the overall performance of the whole portfolio. He believes the returns on gold will come back and a long-term strategic allocation makes sense. He still believes the range for gold is $1,800 - $2,000 for 2021.