storm-boat-wavesThe world is only hours away from key BOJ and Fed meetings that could create a SEA CHANGE in global markets.
A rate hike from the Fed would create panic in the stock market, and investors would flock to gold, just as they did after the first rate hike in December…

If there is no rate hike next week, GDX should challenge the $32 area highs, and lead bullion higher.
If there is a rate hike, GDX and most gold stocks will likely spike lower while bullion soars higher, in a scenario similar to what happened when Janet hiked in December of 2015.
The good news is that after a very brief decline when Janet hiked last year, gold stocks staged one of the biggest rallies in many years.
If she hikes next week, I expect history to rhyme!

fed

  • NO RATE HIKE – “Committee decided to maintain the target range for the federal funds rate at 1/4 to 1/2 percent”
  • Gold and Silver Popping On the News
  • With No Rate Hike Fully Priced into the Market, Will the Cartel Drop the Hammer on Gold and Silver After Initial Reaction?

Full FOMC Statement is Below:

  • Janet Yellen begins her first FOMC Press Conference as Fed ChairwomanNo Hikes Today, But ECONOMIC SITUATION MAY WARRANT GRADUAL RATE HIKES
    Fed Expects Inflation to Remain Low
    Single Dissenting Fed Member Voted to Raise Rates
  •  Translation: We Aren’t Really Raising Rates…But We MUST Halt Gold & Silver Rallies!
  • yellenThe Committee decided to maintain the target range for the federal funds rate at 1/4 to 1/2 percent
  • The stance of monetary policy remains accommodative
  • 1 member voted to raise rates to 1/2 – 3/4%
  • Gold and silver go vertical on the release

Full FOMC Statement Is Below:

  • Janet Yellen begins her first FOMC Press Conference as Fed ChairwomanGiven the economic outlook, the Committee decided to maintain the target range for the federal funds rate at 1/4 to 1/2 percent
  • Committee Expects Gradual Increase in Interest Rates
  • Gold and silver react

Full FOMC Statement is below:

Play

With Oil Plunging to $35, and Silver Hitting New 5-Year Lows at $13.68 Ahead of the FOMC, The Doc & Eric Dubin Break Down the Action, Discussing:

  • Silver Smashed to $13.68Are BIG New Lows Ahead?
  • Fed Set to Hike Interest Rates in the Face of Credit Markets Seizing Up
  • High Yield Bonds in MELTDOWN..It’s Likely Just Begun
  • Deflationary Snowball Gaining Momentum & Heading Downhill?
  • Supply Destruction Sowing the Seeds for Next Bull Market – Anglo American Slashes Production, Lays Off 85,000

The SD Weekly Metals & Markets With The Doc & Eric Dubin is Below:

hikeFED HIKES RATES!

  • the Committee decided to raise the target range for the federal funds rate to 1/4 to 1/2 percent
  • The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction

    Full FOMC Statement is below:

endA few weeks ago the Fed held a closed-door, emergency meeting.
I’d like to take a moment today to go over what they likely dealt with, because it speaks volumes about what we are now facing on the world economic scene:


The Fed is nearing the End of the Monetary Road. 

None of this has been tried before and, to me, that just demonstrates the dangers. Once you get into a situation like the central banks did in ’08 with this panicking — everyone calls it the Hotel California — you can’t get out.

  • To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate.
  • The Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen further improvement in the labor market

Full FOMC Statement below:

fed
  • Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen further improvement in the labor market 
  • Even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run
    (Translation: ZIRP is here to stay)
  • Fed to maintain accommodative financial conditions
  • Somehow no rate hike is now algo bearish for PMs as Gold & silver instantly knocked lower on the release…

Full FOMC statement is below:

silver
Play

With gold & silver smashed yet again this week, The Doc & Eric Dubin break down the trading and bring focus back to the BIG PICTURE, discussing:

  • SDR Basket change this fall?  Eric explains why it’s likely and it’s consequences  
  • Cartel paints a head and shoulders pattern on silver’s 6-month chart with a target of $12-$13
  • Authorized Purchaser of US Silver Eagles bought out by French bank Soc Gen- metals desk to be SHUT DOWN

The SD Weekly Metals & Markets Wrap With The Doc & Eric Dubin is below:

HarveyOrgan

Gold and silver were basically treading water up until the 2:00 o’clock FOMC report was issued.  Actually gold and silver were whacked 10 minutes after the report. Gold/silver equity shares also took it on the chin today as well.
Today we follow developments whether Greece will play ball with the ECB boys or seek the help from Russia and China and default, leaving the west with a mess.

Let’s head immediately to see the major data points for today: