28 June 2013

Gold Daily and Silver Weekly Charts - Oh Say Can You See

The propaganda coming out of the mainstream media is reaching a crescendo.   And the carnies on the financial networks are getting so obvious and clumsy it is almost funny, like watching a bad magic show.

Next week will be lightly traded in the States because of the Thursday national holiday.

If the specs start piling on in the metals they will likely get another 'gut check' or two in the off hours because that is often how these things go in dysfunctional markets as are common in New York and London these days.

The physical markets opening in Asia and Russia are going to turn NY and London into the carnival sideshows that they deserve to be.

I would like to see gold take out its 50 Day Moving Average. That is a technical signal that could spark a rather robust reversal.

Someone may be getting set up to take a beating a little later this year. But let's not get ahead of ourselves. The lack of transparency in the markets makes good forecasting difficult. The use of offshore entities, trading gimmicks, and shell companies by some of the big financials is a serious problem.