Loading ...Gold Daily and Silver Weekly Charts – FOMC Next Week
Both the FOMC and the BoJ will be meeting next week, and the markets will be watching what they say and do with keen interest.
As you may recall, the Bank of Japan is now overtly monetizing the debt of Japan, having bought something like 90 percent of their bonds. This is almost pure money printing.
As for the FOMC, they are faced with wishing to raise rates, for what I believe are their own policy purposes, in an economy that appears to be slipping into recession. That the Western financial Illuminati may wish to blame Europe and Asia for their economic troubles is another matter.
The US will be reporting much more economic news next week which may provide more clarity on the state of the economy.
Gold is having an unusually large month for delivery action on the Comex. And as for silver, although this is a quiet month, silver bullion continues leaking out of the warehouses. If you take a look at the numbers you can see why some think that JPM has almost cornered the market on free silver bullion at least in the NY markets.
Lets see if gold and silver can break out here. If so, then I think we can provide some reasonable estimates of the upsides.
Have a pleasant weekend.