Gold's settlement price comes in before the FOMC announcement and subsequent PR. Gold continues to bounce from the 18 day moving averages with 100 and 200 day averages just above that.
The stock market has been in this run-away move which usually ends in a crash or a mini-crash.
All previous corrections have held the prior resistance zone (support).
Platinum and its sister metals palladium and rhodium -- used in pollution-cutting catalytic converters -- have all suffered sharp drops in recent weeks as carmakers shutter plants and trim output guidance.
Bears had a rare chance to get short with impunity last week -- arguably the first such free-money opportunity since the bull market began more than 12 years ago.
Gold has been clobbered lately but a key metallic macro indicator remains in a long-term congestion zone. If it’s going to be cyclical ‘inflation ON’ we’d expect Cu/Au to break..
