Gold Daily and Silver Weekly Charts – Pop and Stop
jessescrossroadscafe.blogspot.com / 26 MARCH 2015
Gold and silver caught an overnight flight to safety on the war breaking out between Saudi Arabia, Egypt, and Yemen on the overnight.
Gold hit a high around 1218 or so on the spot price, but was pushed back down towards 1203 during the New York trading hours.
The miners were hit rather hard, which sometimes portends a hit on the metals the next day. Let’s see how that works out. These mechanisms and influences are not linear.
It would be in the manner of the bucket shop to give a gut check on a price drop to those new holders of futures contracts from today’s precious metals option expiration. But since I cannot see into all the players hands, to know who is holding what with any confidence, it is too hard to say.
I do think that the US Fed will raise rates this year by some token amount, unless the wheels completely fall off the economy for two quarters in a row. The first quarter is looking increasingly dismal, but it is easy to dismiss that as a one-off due to the weather.
The pampered princes and princesses of the Feds would like to raise rates for the benefit of their Bankers. And they will perform as required. Like the politicians, this is why they are there, to give plunder the appearance of legitimacy.
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