Post FOMC minor weakness

Despite the Fed continuing QE at $85bn a month, the precious metals sold lower on the news, with Gold slipping around 1% from the earlier morning highs. By the close, Gold and Silver saw net daily changes of -0.1% and +0.8% respectively.


GLD, daily

SLV, daily

Summary

Suffice to say, it remains bizarre to see the metals so weak, whilst the Fed are throwing ONE TRILLION of new money at the US capital markets each year.
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Mid-term outlook remains unchanged, with downside to GLD 105/95, and SLV 12/10, in 2014/15.