05 April 2013

Gold Daily and Silver Weekly Charts - Bounce on a Dose of Reality

"It is hard to tell where Hollywood ends and the DT's begin."

W. C. Fields

Washington and New York, like Hollywood, have become the land of illusion, excess, and make believe.

Non-Farm Payrolls was a dose of cold water on their la-la land, which they quickly shook off.  It is the tale of two economies.

Gold and silver bounced up after the incredible pounding they took from short selling hedge funds and momentum players.

I think the metal bears are one unforeseen sovereign crisis away from getting circumcised with a baseball bat, but that is just my opinion and I could be wrong.

Have a pleasant weekend.