28 July 2014

Gold Daily and Silver Weekly Charts - Very Quiet Option Expiration

"Every dictatorship has ultimately strangled in the web of repression it wove for its people, making mistakes that could not be corrected because criticism was prohibited."

Robert F. Kennedy

You would almost forget it was a Comex options expiry if you did not look at the calendar.

Trade in the precious metals was very quiet. We *might* get a gut check tomorrow in order to test the resolve of any new contract holders, and in an advance welcome for the FOMC meeting and GDP numbers on Wednesday.

Nothing fundamental has changed. The Fed and the government are blowing monetary and fiscal policy decisions completely.  There was intraday commentary that touched on that subject here.

There was nothing happening of significance at Madame Tussaud's last Friday, so I am not bothering to show the Comex warehouse and clearing reports tonight.

One can speculate as to their motives, but I think that their errors will become increasingly painful and apparent with time.

Have a pleasant evening.