GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Friday, December 12, 2014

Gold Awaits FOMC, Copper Strongest Metal, Crude has Still Some Room Lower

Gold remains relatively stable into the FOMC rate decision on December 17. Eric Zuccarelli, independent metals trader, tells TheStreet’s Jill Malandrino the resilience in gold has been impressive lately, especially as the energy complex has been in destruction mode. Copper has also been holding its own, in fact, it was the only metal green on Friday. Gold looks like it wants to test that double top and 100-day moving average at $1,240, and maybe even test the real resistance on the last move at $1,250-$1,256. Peter Amandio of Chicago Energies, Inc. correctly predicted crude could see levels in the $50s, and now that we are there, he believes there is still some room to the downside on the daily charts if the fundamentals and technicals remain the same. Amandio says momentum could actually pick up a bit, if selling continues from here.

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