19 March 2014

Gold Daily and Silver Weekly Charts - Another Triumphant FOMC Day

There was intraday commentary on the Fed Statement here, and some comments on the nature of the Fed's policy error in the US equity charts and review here.

There is an option expiration for stocks on Friday, and I suspect that call option owners of the mining companies and various related metals products got quite a ride today.

Have a pleasant evening.

Postscript:   Here is an interesting chart from Median Macro.   I like its presentation format which is easy to read and compactly informative.   However, notice that they are showing the change in the price of gold for the entire week.  I would have preferred to have seen the change in the price of gold from the day before the FOMC meeting to the day after the announcement. 

But I included this because it was interesting that there was no change in the months in which there were no meetings.  They should consider going back a year or two at least to obtain more observations, say at least to the beginning of QE since the hypothesis is that the Fed is engaging in perception management.

Source: Meridian Macro (h/t ZH)