Gold & silver may be priced under $1800 and $23 as we start the week, but come Friday…
(by Half Dollar) Friday is a huge day in the “markets”.
Of course, I’ve lost count of whether President Biden is currently on a quadruple-down or on a quintuple-down with regards to real wages, but with Fed Chair Powell memory-holing the world “transitory”, it should come as no surprise that the upcoming Consumer Price Index this Friday will be the most important inflation report, ever.
Complicating matters, since the Fed “meets” next week (December 14 & 15) to “decide”, among other things, interest rate policy, there will be no Fed speeches, statements, interviews or other nonsense this week to publicly and overtly appease any market anxieties or insecurities.
In other words, assuming there are no black swans of the non-market variety, prepare for an onslaught of mainstream media propaganda and wannabe mainstream media propaganda throughout the week and especially on Friday at and after 08:30 a.m. EST when the inflation statistics hit the tape.
There’s a golden cross on gold’s daily chart:
The problem is, it’s gold, but on the other hand, the Cartel has not been stark-raving mad lately, so there’s that too.
Good thing that’s not a “bear flag” on silver’s daily chart:
Or that the technicals don’t matter.