27 March 2014

Gold Daily and Silver Weekly Charts - Roll Over Beethoven

There was intraday commentary on the gold market and in particular the April delivery month here.

We are crossing over into the April delivery month, and I think the price and volume action reflect that reality. Especially with regard to the relatively high number of potential contracts that are still in a position to stand for physical delivery.

More gold came into JPM eligible storage yesterday.   I'll have to take another look at the ETF inventories in the next couple of days.  Has anyone seen the Ukraine's national hoard?   lol.

Let's see how the next two or three days go.   I expect this will settle out by the end of the first two delivery weeks.

As you might have expected Ben Bernanke is no cheap 'intimate dinner' date. I hope they at least give him cab fare with the check.

Spring is in the air.  Have a pleasant evening.