Gold Daily and Silver Weekly Charts – Rally Intensified on Fed’s QE Statement
Wednesday, August 22, 2012 23:32
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Gold and silver were rallying even as stocks were declining, when the Fed released its minutes from the most recent meeting this afternoon. The Fed is concerned about the lack of growth in the economy and signalled its willingness to invoke additional quantitative easing ‘fairly soon.’
This intensified the rally in gold and silver and helped stocks to lose some of their early losses.
Gold has stuck a close above the big resistance, and now needs to take out the trendlines around 1665 to get some legs.
Stocks are running on liquidity and hot money expectations, and not much else.
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2012-08-22 23:24:45
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