Gold & Silver Are Chipping Away At The Cartel’s Wall Of Resistance

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from Silver Doctors:

SD Outlook: Gold & silver are going to be fighting for every inch on the charts this week. Here’s why…

Looking at the calendar this week, we’ve got some good old-fashioned Fed jawboning most days:

A double dose of Kashkari starts the week, but come Hump Day we’ve got Bullard and Mester on deck.

The big event, however, happens this Friday:

On Friday, the Bureau of Lies Labor Statistics releases the March BLS Jobs Report, also known as Nonfarm Payrolls.

Wednesday we will get a taste of March job creation with the private sector compilation in the jobs situation, known as ADP, so we must be on guard on come Wednesday and especially Friday because Jobs Friday is one of the favorite times the cartel loves to smash. Especially since the data release comes out a whole hour before the market opens.

The cartel can really muscle a thinly traded market at that time.

The point of the fundamental factors this week is this: The cartel will look to chip away here and there where it can.

Helping the cartel, for at least one more day, is the fact that while the U.S. is back open for business, much of the world in all hemispheres is still closed in celebration of Easter.

However, helping the case of the goldbugs and silverbugs, is that in the United States, sector rotation could be on, and if so, gold was a top performer last quarter, so we could see increased demand this week before the rally. Said differently, investors, especially institutional investors, my finally be coming on board with a stock market that was down for the quarter, and if those institutional investors are coming on board, they will want to be on board before the rally.

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