Gold & Silver, Post-FOMC

There are crosscurrents in the futures this morning.  The US dollar is up, commodities and stocks are down and gold and silver are making new highs and attempting new highs, respectively.

Gold finally pops 1308…

gc

But I am not so much talking about the higher high to May, as I am about the higher high to January, 2015.

gcweekly

Silver has more work to do, which makes sense because the market backdrop has not flipped inflationary yet (remember those tanking inflation expectations we’ve been going on and on about).  The daily is below the May high.

si

Silver weekly is below the January, 2015 high.

siweekly

But now that we’ve got the confederacy of Doves behind us we can follow a plan that would lead to a whopper of an inflation trade.  But first the downside degradation in the things positively correlated to the economy needs to complete.

From NFTRH 399:

“Please filter the gold touts when they pump you during phases like the one we have had since mid-February. As was proven in January, the sector is fundamentally nurtured when the ‘bad stuff’ is happening most everywhere else.”

The bad stuff appears to be whipping up again most everywhere else.

By the way, the above charts are from this handy tool at Biiwii.com, if you ever want some live charting over many time frames.  Most are real-time.  Or, you can go straight to TradingView, using the link on the chart.

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