Gold Daily and Silver Weekly Charts – US Dollar – Le Douleur Douce du Monde

Jon Blogosphere, Economy, Fiscal Policies, Gold, Government, Market Commentary, Precious Metals, Silver

I saw pale kings and princes too, Pale warriors, death-pale were they all; They cried – ’La Belle Dame sans Merci Hath thee in thrall!’
John Keats, La Belle Dame Sans Merci
Today was a classic. It was like tuning in to an old Milton Berle show and hearing all the familiar jokes, pratfalls, and goofy faces.
Gold came in steady, near to unchanged from yesterday’s close. It was roughly the same for silver.
Both precious metals were jammed higher for no particular reason in the early morning trade in NY, late London.
And both were smacked lower on the ‘hawkish’ FOMC statement, although stocks were having none of it, not one bit.
The reason for the metals smack can be attributed to their pricing in the dollar cross, as the dollar caught a bid. Not surprising since most of the developed world is busy cutting rates and trying to devalue for the sake of their economies, and the Fed is talking recovery, even though there really isn’t any sustainable recovery evident just about anywhere. I discuss the stronger dollar a bit today here.
Looking at the end of day we see that silver is slightly higher by about $.10, and gold is down about ten dollars from the close at yesterday afternoon.

This post was published at Jesses Crossroads Cafe on 28 OCTOBER 2015.