Wednesday, March 18, 2009

Gold Spot Chart

WoW, What a pop!

Gold was down nearly $30 this AM (likely a knockdown prior to the Fed announcement) and then experienced an amazing spike after the announcement (see below) - spike was likely related to the Fed's announcement they would begin to buy $300B of long-term government bonds and extend mortgage-related debt purchases to help ease credit market conditions - adding $1 trillion to its balance sheet - The Money from Helicopters is falling


Anonymous said...

Yeah... I saw that too. Too bad I don't have enough money to buy on the dip. DAMN!

Anonymous said...

I was trying to buy on the dip, but the screen ran and I thought something was wrong with my feed! Silly me, it was Ben Bernanke and the Fed in action.