The gold and silver weekly charts showed a rebound but we are not ready to see a big move to the upside just yet. It will be interesting to see what happens in the week ahead. I follow a guy on YouTube who goes by the name of JSNIP4. He is a regular guy who posts a video blog of current events. What he reports on is a bit out there but that is the sort of thing that I like. He follows a webbot report and posts interesting points from this report. One of the interesting points is that the webbot is expecting a large spike in precious metals. The webbot predicted that what the Fed does at this coming FOMC meeting will be looked back on as the thing that caused the coming financial crisis. It is not really difficult to make a forecast such as this. I have been saying this for quite some time. It will be interesting to see what happens. Either they raise rates and the high yield credit market collapses (good for PM's) or they keep rates on hold and the dollar and bond yield collapses taking stocks down with it (also good for PM's). That is my basic understanding of the options ahead. The outcome could be totally different of course. I am no expert on these matters. I am quite certain that if they do raise the rate to say 'we told you so' they will be reversing it next year and then some.
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