26 March 2014

Gold Daily And Silver Weekly Charts - Option Expiration

Yes Virginia, it was a precious metal options expiration on the Comex today.

Yesterday there was the usual inflows and some outflows in the Comex gold bullion warehouses as the bullion banks ready themselves for the April active delivery month.

I have placed the gold technical averages chart up today, because in addition to the 'golden cross' of the 50 and 200 DMA, the price of gold has fallen to test the 200 DMA. Anyone who considers themselves a technical analyst must be aware of these developments. As far as chart formations, there are some possibilities, but time will tell.

Let's see what happens.