A week from today, the Federal Open Market Committee opens its September meeting. It will report out its action or inaction the next day (September 21). The jitters have begun yet again.

Fundamentally speaking,, gold should have been bid up strongly today. Instead, it found its momentum almost wholly from a weaker dollar.

The old adage “buy on the rumor, sell on the fact” was turned on its ear today as rumors fueled the tanking of gold and silver; equities in the U.S. and Europe; and crude oil.