13 June 2014

Gold Daily and Silver Weekly Charts - FOMC Next Week - Calling Dr. Strangelove

Gold and silver continued their rally off a deeply oversold condition, well within their intermediate downtrends.

There was little action in the Comex warehouses, and a few more contracts were stopped.

Next week is an FOMC meeting.
We may then see how the cards will fall in the short term.   For now it seems that that status quo may continue to prevail, given the nature of pricing discovery.
Sounds like it will be a busy time in the Pax Americana.
Have a pleasant weekend.