- FOMC SAW NO NEED TO EASE ANEW UNLESS GROWTH SLOWS, MINUTES SHOW
Gold and silver have been treated to instant waterfall declines on the news, as the Fed trys to MOPE gas under $4, silver back under $32, and gold back to $1650.
We'll see at April's FOMC meeting whether they continue to distance themselves from QE3, or openly admit that it's imminent, as is expected by Bill Gross.
Silver has gapped down almost .70 to $32.70. Look for support to emerge at $32.40-$32.50 which had been silver's range trade for the previous few days prior to yesterday's big move.
Gold has also gapped almost all the way back to $1650, which should hold as support.