The Bullion News & Commentary Continues...
"Sometimes God allows terrible things to happen in your life and you don't know why. But that doesn't mean you should stop trusting Him."
- Christina Grimmie
Posted on 6/19/2016 @11:52pm
In last week's post, I wrote about how Janet Yellen was getting nervous about the markets and I questioned how soon we would see this nervousness in the FOMC statement.
It didn't take long to answer that question.
Steen Jakobsen of the SAXO Group breaks the latest FOMC statement down in his post here, a copy of the FOMC statement is attached in Jakobsen's post.
Furthermore, I read the Federal Reserve's 'Economic projections of Federal Reserve Board members and Federal Reserve Bank' seen here.
My take of their forecast is that they are detached from reality and just can't admit that they screwed everything up.
The most glaring example of their detachment from reality is in their forecasted Unemployment rate data.
It shows that they expect the unemployment rate to stay below 5.0% through March of 2018.
In the last 40years their has only been one time that the unemployment rate has stayed below 5.0 percent for that long time. See the Historical Unemployment charts here.
That time was during the 1990's, when the 'Dotcom bubble was happening, the bubble we are in now is nothing like the Dotcom bubble, plus we are currently experiencing the end of a business cycle.
The truth is we are at full employment with over 90 million Americans who are not in the labor force. In another words, the reason why the unemployment rate is down ain't necessarily a good thing.
Americans Not in Labor Force Exceed 93 Million for First Time; 62.7% Labor Force Participation Matches 37-Year Low
The sad truth is that the Federal Reserve's programs of 'QE' (quantitative easing) and 'ZIRP' (zero interest rate policy) have manipulated the markets so much that good numbers are still bad.
Furthermore, anyone who takes the FOMC forecast as fact needs a reality check, some will laugh at it and some maybe crying after looking at it and realizing that the Federal Reserve has no clue as to what is really going on in the markets.
This is why Wall Street is now realizing this is as good as it gets.
Since late January, the US Dollar has not been able to break its falling trend-line .
The reason behind the US Dollar's rise was due to the Federal Reserve's constant cry for interest rate hikes.
Now that those cries for interest rate hikes have shown to be 'smoke and mirrors,' nothing is left to hold the dollar up.
On the guide's quarterly pages, there is a section called the 'Fed's Confidence Zone', seen here on the 4th qtr 2015 page.
On previous homepage market update posts, I have stated that I think we will see gold hit $1350 when the US Dollar falls to $92.50. However, we could see it at $93.00 as it is stated on the 4th qtr of 2015's 'Fed's Confidence Zone' section.
Brexit will be a big game changer for the gold market if Britain votes to leave the European Union, on Thursday, June 23rd.
If Britain votes to leave the European Union, gold will break some big barriers in the first week or so.
But, if Britain votes to stay in the European Union, then gold looks to consolidate and could pull back to the $1240 level.
There are a lot of variables that could happen with the markets in regards to the results of the vote.
The doom and gloom talk is coming from those who want the Britain to remain in the European Union and the opposition is coming from those who favor sovereignty.
If Britain votes to leave the EU, it will be a shock to the markets and especially to the currency markets.
That is why gold, the ultimate safe haven currency, is due to benefit the most if Britain leaves, although it will be a two-year process, the European Union's future will be in question.
Below, you will find Gold and Silver's charts indicating their support and resistance levels for the week ahead.
Except for any unknown events, the Brexit vote is what will rule the markets this week and because of this if I wrote anything more it would be a waste of your time.
So, I wish you well and hope that you will come back next week.
Thank You for Visiting the Free Bullion Investment Guide
Please Help Us Give to those who are Battling Cancer by Supporting our Affiliates
(Every Advertisement on the Guide is from one of our Affiliates)
The Bullion and Financial Market News, above, is updated daily.
You can click on one of the pages below to see all the Financial Market News the Guide provides you
The Latest spot price charts of all Precious Metals are found on almost every page of the Guide.
for Interactive, Foreign and Historic Charts
you can go to the
Price Charts Aide page
The Bullion Basics pages were created to help you to get familiar with the Bullion Market.
The following pages give you a history of the Mints and or Central Banks that produce the bullion coins, for each country.
In addition, you will find, near the bottom of each page, a link to the Precious Metal Bullion Coins for each country.
The Coin pages offer you the history and narration of the coins, photos, specific coin information and mintage figures.
The Refiners pages give you a history of each refiner and in-depth information about their bullion.
The Bullion Security pages offers you information about two popular ways to protect your bullion. On your premises and off premises.
The Home Safes page gives you information about the differences in the way home safes are made, how to choose the best one for you and links to suppliers of these safes.
And the Vault Bullion Storage page offers you information about storing bullion abroad. It explains the differences between allocated and unallocated bullion and lets you decide what is best for you.
The pages below give you the history behind the ratios and how to interpret them to help you judge the bullion markets.
Each page offers you more information about the type of Bullion you may be interested in, in addition, you will find on these pages the links to the dealers who offer the bullion.
These three pages of the guide will help assist you in purchasing bullion (if you choose to do so). In addition, each page gives you in-depth information about how they can help you in your bullion purchases.
The Investing Gurus page gives you a glimpse into many well known investors and their trading practices. Some are well known in the precious metals industry and others are popular in all markets.
Every Visit You Make is Greatly Appreciated!
Last Ledger Entry 06/11/2016
The Guide is Supports
Please Help Us Give