18 March 2014

Gold Daily and Silver Weekly Charts - FOMC Meeting Day One

Today was the first day of the FOMC meeting. Tomorrow they will announce their latest reading of the entrails of the real economy at 2 PM EDT.

It was 'risk on' all the way, as money moved into equities. And Treasuries as the yield fell. Surprisingly those two moved in concert, but on thin volumes. Pretty as a picture. Endless prosperity and no worries.

Gold has now come back down to test the neckline.  Let's see how we end the week.

There will be a Comex option expiration next Tuesday for the more important April contract.  We are getting closer to a real delivery month, at least in terms of the Comex which delivers relatively little.

Have a pleasant evening.