29 July 2013

Gold Daily and Silver Weekly Charts - Slogging Slowly Through an FOMC and GDP Week

“I worry about the effects on the long-run stability and efficiency of our financial system if the Fed attempts to substitute its judgments for those of the market.”

B. S. Bernanke, 15 October 2002

Jawboning for the first part of this week from the Fed, and a pseudo-random number may pop out as GDP.

So by default the Jobs Report will be the big market mover, and probably undeservedly so.

Goldman reiterated its call for a sell in gold, as did the big Roubini.

Talk is cheap.  Stand and deliver.