It could be exciting, or a whole lot of nothing, which means a whole lot of…
(by Half Dollar) There are plenty of potential launchpads, or woodsheds, in the gold & silver market this week.
To name a few, we have housing market reports, GDP & employment reports, trade & inflation reports, and we also have some manufacturing reports hitting the tape.
The big event of the week is the Fed’s 2-day FOMC Meeting, which concludes at 2:00 p.m. EST on Wednesday and includes the Fed’s latest so-called “interest rate decision”.
Fed Chair Jerome Powell will also be holding a much anticipated “press” “conference” at 2:30 p.m. EST on Wednesday, after the conclusion of the meeting.
Needless to say, there are multiple launchpads, or woodsheds, or whatever, for gold & silver this week.
Of course, if I had to guess, I would say that the maximum amount of pain is found in little movement of the metals right now, as opposed to big moves in either direction:
But I don’t rule out taking non-card carrying club member options sellers to the cleaners, either, for it is a Rigged Casino.
Although if nobody is looking, or if the people are unable to take action, then a capitulation event does become more likely.
People like to say the Fed is “cornered”, or “boxed in”, or “between a rock and a hard place”, or “insert favorite being stuck cliché here”.
If my experience and observations from the amusement park just yesterday are any guide, however, it seems to me like the people are the ones who are stuck.
And that’s not an accident.
It’s by design…