The Phaserl


TRICK OR TREAT: Fed Smashes Gold & Silver While 2,000 Gold Eagles Were Sold

from SRS Rocco:

In keeping with the mood of Halloween, the monsters came out early this morning to scare the living Hades out of the gold & silver market.  We had the typical FOMC precious metal smash-down today to balance out the bullish move in gold and silver yesterday instigated by the Fed’s policy of continued QE stimulation.

In a 24 hour period, silver traded more than 5% from highs to lows.  Nothing like a dose of volatility to get investors ready for the Halloween festivities.

While the traders were focused on the “FED TRICK”, in the precious metal markets, few realized the “GOLD TREAT” as the U.S. Mint updated its Gold Eagle figures showing another 2,000 oz of the coins were sold since their update yesterday.

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