Yes it is that time again as next Tuesday is another option expiration for the precious metals on the Comex. See the calendar chart below.
The Comex warehouses continued to shuffle their chips and cards, with no meaningful movement of gold bullion in or out yesterday.
Gold is obviously coiling in a symmetrical triangle at key resistance, within a large inverse H&S formation, and an even larger 'W formation.'
I do not expect the Comex situation to resolve itself this month, with continuing low inventories of deliverable gold and antics with price and delivery being played until there is some shock from outside the pits, some failure to deliver that cannot be covered up or brushed aside.
That is how it was with the last financial crisis, and that is how it will be with the next one which is probably no more than two years away. While the policies and fundamentals remain the same, it will be foolish to expect other outcomes.
Have a pleasant weekend. See you Sunday evening.