16 December 2013

Gold Daily and Silver Weekly Charts - FOMC Meeting This Week - No Yellow Dogs Allowed

As a reminder, there will be an FOMC meeting this week, with the announcement on Wednesday the 18th at 2 PM.

Gold and silver showed some strength today, but until they break their downtrends this just the wiseguys doing the Wall Street shuffle.

Janet Tavakoli has an interesting report out today, How Hidden Bank Risks Drive Investors to Productive Assets, U.S. Treasuries, and Gold.

When I first became interested in gold, traders on the chat boards used to call it 'the yellow dog', or yaller dawg if one was of the Southern persuasion. That was because after the long and brutal bear market, gold was wallowing in the mid 200's and was getting little interest and absolutely no respect.

When this dog turns higher again, and I believe that it will, it may show us a run that would put a greyhound to shame.

Have a pleasant evening.

'Truly I tell you, whatever you did for one of the least of these, you did for me.'