28 April 2015

Gold Daily and Silver Weekly Charts - 1Q GDP and FOMC Decision Tomorrow

Oil and the metals spiked this morning on a false report that Iran had seized a US vessel.

Tomorrow and the rest of the week may be the bigger test for the precious metals.

We will get the 1Q advance GDP number in the morning and the FOMC decision in the afternoon.

I do not think that the Fed will do anything in particular except move their jawbones a bit more.

So let's see what happens.

There were a few claimchecks for gold bullion exchanged at the Bucket Shop as noted below, but nothing really happened in the warehouses, which some day may just be left in place as museums, a monument to our exceptionalism and past freedoms.

On the lighter side, Twitter accidentally leaked its results before the close. They were seen by an analyst on their website and tweeted out. The stock was pounded down 18 percent before trading was halted.

Have a pleasant evening.