16 November 2012

Gold Daily and Silver Weekly Charts - Trading Places, Gilded Rage

Coiling, coiling, coiling for a move...

Much of this selling in stocks and also in the precious metals appears to be tax related, and highly artificial. I would not call it panic, but let's just say that it is not based on fundamentals, especially with regard to market supply and demand in 'real things.'  The valuation of paper is another thing altogether.

I think the election has unhinged financial television. They seem to be off in some alternative reality where they are gripped by a fear of an imminent pigmageddon

Gold and silver look like a good long term place to store some provisions.

See you Sunday evening.