Gold

The equities steamroller just keeps flattening everything in sight. Of the nine exchanges across the globe, only the Nikkei in Tokyo showed any softness. That was on the weight of a drop in industrial output in the world's second-largest capitalist society.

Absent other news to bolster it, gold fell again today, as did silver.

Gold fell again today. This time it was after extremely dovish statements by Fed chairwoman Janet Yellen. It leaves us scratching our fundamental heads.

The video and report are from Fridays Weekend Review -------

We conclude a down week with little fundamental news to speak of.

Blame it on the Fed's March news conference, if you'd like, although we feel that was the pretense rather than the underlying cause. An overbought market is probably the real culprit, gold having risen so high so fast.

We conclude a down week with little fundamental news to speak of.

Blame it on the Fed's March news conference, if you'd like, although we feel that was the pretense rather than the underlying cause. An overbought market is probably the real culprit, gold having risen so high so fast.

But even that is not the whole picture.

Gold was down again somewhat severely today essentially on technical selling, lack of physical buying and no safe-haven demand.

We did not experience a completely news-free day, nor did we see any drama in either the economic news coming out of the U.S. nor from the crisis in Ukraine/Crimea.

The biggest news of the day may well have been technical, insofar as the 1300 support level did not hold in afternoon trading today. More on that in our other areas below and on today's video.

News was slim today and so it was cause to say "meh."

Unless you're around young hipsters or old Yiddish-speakers, you'll need a definition. It's a verbal shrug of the shoulders used when nothing about a particular event or experience makes much of an impression.

There are many experts out there today explaining that the reason gold took a hit today is because they have read some special meaning into Janet Yellen's post-FOMC press conference last week. That's pure hogwash.

Sometimes the clearest thinking comes from dissenters. In the case of the Fed and the results and blowback from the latest FOMC meeting, that certainly seems the case. It may be only a matter of wording, but there seemed to be a slight policy shift.