30 April 2014

Gold Daily and Silver Weekly Charts - Light Hit in the After Hours On an FOMC Day

"There is not a crime, there is not a dodge, there is not a trick, there is not a swindle, there is not a vice, that does not live by secrecy."

Joseph Pulitzer

"The power which the moneyed interest can exercise, when concentrated under a single head and with our present system of currency, was sufficiently demonstrated in the struggle made by the Bank of the United States...It is one of the serious evils of our present system of banking that it enables one class of society, and that by no means a numerous one, by its control over the currency, to act injuriously upon the interests of all the others and to exercise more than its just proportion of influence in political affairs. The agricultural, the mechanical, and the laboring classes have little or no share in the direction of the great moneyed corporations."

Andrew Jackson, Farewell Address

The price of gold and silver were hit in the after hours taking gold down a bit from largely unchanged.

I have included a chart below that shows the two moving averages of 100 and 200 days, so you can see how 'channeled' gold has become just under 1300.

So we say goodby to April delivery. The big contract now is June.

Have a pleasant evening.