Gold and even the somewhat hapless silver managed to pull together a modest rally today, after the stock market option expiration we saw last Friday.
The miners and associated precious metals plays had been beaten with an ugly stick.
So what next?
We have a Comex option expiration for the precious netals next Tuesday for the November contracts. I have included a little data from the deliveries in gold, which were a bit more than one would expect for an inactive month. And there continue to be some steady withdrawals from the gold and silver warehouses. In particular silver is flying out of Scotia it seems.
There was intraday commentary about the purchasing of gold bullion in Russia and China.
Have a pleasant evening.