The Fed Reserve appears to be on the edge of a credibility problem: the market does not believe the central bank’s official forecast for interest rate policy. For reference, the current Fed-controlled short-term interest rate is set at a range between 2.25% – 2.50%. Below we show the Fed “Dot […]
Over the last decade Russian Federation nearly quadrupled its Gold Reserve, accounting for 42% percent of all purchases by central banks worldwide. According to Bloomberg, 2018 marked the most “ambitious year yet” for Russia gold buying. And as of May 2018, Russian Central Bank liquidated $81 billion in Treasuries, almost […]
Gold Breaks Support – Silver Holds On the heels of an advancing US dollar and a stock market which is challenging all-time highs, gold fell $19 or 1.5% this week. Broke the “neckline” support level at $1,283 (black) of the head & shoulders pattern (blue callouts) in the expectation we […]
For the week, gold was lower by a nominal $0.40 cents or 0.03% to close at $1,295.20 as of the final trade on the New York COMEX on Friday afternoon. From a technical basis, it would be extremely healthy to see gold simply consolidate above the $1,283 level through May. […]
For the week, silver finished lower by a marginal $0.02 cents or less than 0.2% to close at $15.09 as of the final trade on the New York COMEX on Friday afternoon. The gold to silver ratio thus declined slightly, by less than 0.1 point, to 85.9. The key level we […]
