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.

 

SP 500 and NDX Futures Daily Charts - Oh the Weather Outside Is Frightful

Oh the weather outside is frightful, but inside it's all delightful.

And the economic elite are all inside, and well sheltered if not pampered, so it doesn't matter.

The GDP report for the 1Q this morning was awful, barely finishing negative and most likely to be revised lower as the GDP deflator rises to something a little more realistic.

The markets followed the Fed's lead and disregarded that number, choosing to 'look forward' and not worry about the weather.

So we are now looking forward even hard to the Non-Farm Payrolls report on Friday.

Have a pleasant evening.

Gold Daily and Silver Weekly Charts - The Fruits of Currency War - FOMC Tomorrow

"A great war leaves the country with three armies; an army of cripples, an army of mourners, and an army of thieves."

German proverb

I would imagine that the proverb can be figuratively applied to a currency war.   We certainly are seeing an increase in the economically crippled, the financially devastated, and of course, plenty of thieves who continue to operate with impunity. 

Today is the last position, last notice day for the April gold contract.

Gold and silver continue to chop sideways in a narrow range.

Tomorrow is 1Q GDP in the morning, and the FOMC rate decision announcement in the afternoon.

Non-Farm Payrolls on Friday.

Over 500,000 ounces of gold have been 'claimed' on the April delivery, but the warehouses reflect little movement of physical bullion.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - If the Markets Are Up It Must Be Turnaround Tuesday

Today is a Tuesday.

Therefore the equity markets rallied.

TWTR is getting smacked after hours because of a slowing in the growth of users.

Ebay is on deck to report.

Have a pleasant evening.