26 October 2011

Gold Daily and Silver Weekly Charts - La Douleur du Monde



Another nice up day in the metals running a bit counter to commodities.

Gold finished around the big resistance of 1720. Today was a quiet expiration and it may be that the new holders of futures, compliments of their 'in the money' calls, will be given a gut check tomorrow or the next day.

But the news and the headlines from Europe are so dominant in this market that this is the primary driver, and most other things are secondary.

I put my own portfolio in a defensive position into the close. I will be out of pocket almost all day on Friday so there will be no updates until very late, or on Saturday.