Gold Daily and Silver Weekly Charts - FOMC Week Shenanigans

Gold spiked higher in the morning on a pure flight to safety, but was pushed lower as stocks attempted to rally. Reality versus liquidity?

The FOMC will meet this week, so we might expect the usual FOMC shenanigans, but bear in mind that the big traders are squaring off against the upcoming February delivery.

I do not expect any curve balls from the Fed which is now locked into its mild tapering. Their monetization has clearly failed, being a 'top down' approach to The Recovery, which has exacerbated the strains in the real economy versus the financialized, paper economy.

The gold/silver ratio seems rather high at 63 to 1, and that reflects the fact that gold has led silver up this month in the precious metals rally.  Once silver gets started higher, it may kick in some serious jets and catch up rather quickly.  But one step at a time.  

As solid and well-informed the Bloomberg print reporting may be, their television counterparts all too often have the depth of cackling chuckleheads, with a few notable exceptions.  Well, they do have nice smiles, and so forth.

It really is annoying, but alas, Fox and CNBC are little better.  I have never understood why the US treats visual financial reporting as light entertainment, as compared to Europe and Asia which have a more journalistic approach. 

Have a pleasant evening.