Gold Daily And Silver Weekly Chart
March is a tough month historically for the metals. I would that it were not, but it is.
And don't the wiseguys know it, and help it along.
And it seems to be a month that attracts quite few supercilious comments about values and valuations.
However, it is what it is. Gold and silver have failed to break out of the downtrend.
Let's see what happens next week, with an eye towards Asia.
There was a little action by the bucket shop boys, but nothing moves out of the gold bullion warehouses these days. The Comex silver warehouses are being used as a delivery point interestingly enough.
FOMC meeting next week. I think the big tickle will be centered on wording, specifically the word 'patient.'
Even the Fed's actions these days are somewhat disconnected from the real economy. The idea of raising rates while the rest of the world is cutting, with a soaring dollar, is almost ludicrous.
The Fed has the itch to raise because they ought to have done so before this latest stock asset bubble took off about two years ago, and changed their method of stimulus which does few outside the financial system any real good.
They are raising, not to fight inflation of which there isn't any, even on the horizon except that which is monopoly driven like healthcare. Rather, they are wishing to raise for their own future policy reasons, so that they can cut them when their latest bubble bursts.
This is the credibility trap in action. Past errors and complicity prevent them from addressing the real problems, or even stating what they are honestly and frankly. How can a co-conspirator gracefully introduce necessary reform without harming their credibility, or their cash flow?
Do you envy the rich and powerful? Don't.
"It would be far better for that man if he had never been born."
Remember the poor, and the creatures of the air as well, as Spring slowly arrives.
And remember the things that, in the end, are the only things that really matter.
Behold, He makes all things new.
Have a pleasant weekend.
None.