26 October 2015

Gold Daily and Silver Weekly Charts - Nothing Really Happened - FOMC Rate Decision on Wednesday

It appears that a criminal case is being brought against a 'rogue trader' at Goldman Sachs who was caught obtaining confidential documents from a 'rogue central banker' at the NY Fed. Informed rumour has it that the defendants may condescend to plead guilty to a misdemeanor. Who says that crime doesn't pay?

Gold and silver pretty much did nothing today. Just a little back and forth chop.

I continue to watch the model of this retracement which I have posted to gauge what is going on.

There was little activity in the gold warehouses. More bullion was traded between the house accounts of Nova Scotia and JP Morgan. That seems to be the fashionable thing to do this month.

Perhaps something will be allowed to happen later this week.

FOMC rate decision on Wednesday.

Have a pleasant evening.