March Fed rate hike odd are near 80% up from mid 20's recently and gold and silver have said a big 'whatever' ! The numerous hikes suggested have been priced in and gold nears US$1250 after being slammed down again… it bounced straight back against the shorts and rate hike increasing odds… we have a serious situation seriously developing here… Gold and Silver are very much doing their own thing now and the short effects and USD gyrations seem to have less effect.
The market may well be readying for a much larger move up especially as the Fed data worsens this year which seems to be happening already and a physical shortage of metal apparent. The short squeeze to come may well propel gold and silver a lot higher given the shorts put on yesterday drove Gold down to US$1230's only to see it eaten back up quick time to US$1250. Something is afoot.
JFI
gold, page-24602
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