In simple layman terms;
Yesterday, the metals market, at the close of trading, at 2PM, Gold was off about ($1.40) and silver off a few pennies.
Then, electronic trading (futures) continued and right after Yellin spoke, PMs rocketed, and of course, the electronic funds and Miners rocketed.
Today, Gold started out following through and maintained the gains but slowly slid a bit in the afternoon to end up, but not enough to match yesterday's gains.
Silver was stronger today but yesterday SLV already made most of the move.
So, poster dogjr5000 is 100% accurate. I just explained it differently.
$19.33, but wide open. $18.94 is a triple top pivot point. Once broken and held, looks real good!
Right, wrong or indifferent, today's Fed decision and press release could be a momentous near term market moving event.
It's likely the market is expecting a cryptic, non event whereby there is no "Tellin' by Yellin". They expect words expressing the economy is moving along but at a slow pace and we stand by our position intending to start to normalize interest rates in the summer. But, if the economy reflects any changes to full employment and inflation, we stand ready to remain at zero interest rates for an extended period of time.
ANY tell towards a rise will create a negative near term risk for PMs, but would be followed by A return to the upward slope started 2 months ago. World Coinetary policy is on amaddening road of a self inflicted flesh eating bacteria, destroying not creating wealth, and IF no one believed there was a problem, why would the large Central Banksters be accumulating Gold? I don't ever plan on taking a wheelbarrel full of fiat to the grocery. Much rather have a couple of mercury dimes available for pizza and soda.
What if FOMC doesn't elude to raising, and just the possibility and leaving open the door. Then, come April, they leave all alone. Come June they raise by under a 1/4pt or leave all alone?
OR, what if they actually go negative?
There are several possibilities.
Even they admit, they are in unchartered waters.
If the DOW is now 17,200, and you are suggesting to buy a DOW short vehicle, why would your target on the DOW be 17,500?
Over the next 30-60 days, no one today can accurately predict the dips and pops.
Over the course of the next 2-3 years, Gold and Silver should make sustained moves.
NOTHING goes straight up and it's not likely we will wake up one morning with PMs up 50% overnight.
I think it's safe to say, a monthly purchase of physical should be continued.
It's also wise to consider, miners and streamers are essentially the equiv of a 5X the move of physical. It's a poor man's derivative. And timing the market is shooting #$%$,which has a bit of math to it. So either average in, consistently OR if you are strong believer in your T/A--then some will have you believe, we should have a lull for about 30-45 days to gather yur powder for the next move,by May.
Miners and of course, streamers have been outperforming EVERYTHING.
ON a day like today, AU and AG are either down a bit or near flat.So why the disconnect?
Central Banksters ARE eating up supplies of gold. That is fact.
But, they do NOT want outright panic so banksters are shorting electronic PMs. That, they can control.
But, it's very difficult for them to control ALL MINERS.They can short GDX and other mining ETF plays but it's getting out of control. So, electronic traders are gobbling up the miners and physical --The IAU fisaco is proof the genie is getting let out of the bottle.
Search for the article and read!
The best we have to muster for our system is either Billary or the Trump card?