Wednesday, March 19, 2014

GLD Pulls Back to Support

Here's an update of my chart of the GLD ...

(Updated chart)

Fed Chair Janet Yellin worsened gold's selloff with comments that were much more hawkish than the market expected.  However, gold has just come back to support. Thursday could be an important, but what really matters is how gold ends the week. Stay tuned

1 comment:

  1. So exactly how long can the US expect to keep up this type of production? If the US sells this oil on the open market, who is getting bent over the barrel (no pun intended)?
    If we are this 'resource' rich, why not just save it for the inevitable time that it will end?
    We have plenty of existing holes in the ground to store it.
    How about lower gas prices for the average Joe ?
    Anymore JOBS in the US for this?
    What about the return of making plastics? Most of this is made from oil/ natural gas.

    During and prior to WW2, the US exported our oil to the rest of the world. Since that time, the US has become beholden to a bunch of nefarious pukes who are only interested in the almighty 'dollar'.
    Personally I have gotten better value and price for having bought gold since the end of the Vietnam war.