07 October 2013

Gold Daily and Silver Weekly Charts - Bracing Against the Wind

"...to the glory that was Greece,
And the grandeur that was Rome."

Edgar Allen Poe, To Helen

There are some very strong trends running now, and the COMEX crowd is bracing against them as best that they can.

If they falter, I would not be surprised to see a solid triple digit up day in gold. It really is that bad.

But for now they maintain control over paper prices and have scraped a little more bullion together for the poor COMEX warehouse inventories as show below.

You may recall that there were major price operations the last two Decembers to skin the ETFs and hold off on deliveries. I wonder what it will look like when this tired old scheme fails. I would imagine it will be noticeable.

But until they hit the wall its have another slug of Jack Daniels, and put the pedal to the metal. So try not to let the ugly people scare you too badly ahead of Halloween.

Have a pleasant evening.