03 December 2014
Gold Daily and Silver Weekly Charts - Non-Farm Payrolls on Friday
It will take a breakout to change this long bear market. That sharp V bottom and recovery we just saw *might* be bottom with a capitulation, and if it were any other time and any other market I might say it probably did.
But things being what they are, we will have to wait and see if the markets can move higher and break that trend.
We may discuss the particulars, hidden as they are by the deception of the Banks and their markets, but there should be no doubt that gold is flowing from West to East. How this will turn out, and when we will see some resolution of this growing divergence between reality and paper, no one can say.
But in the meanwhile here we are. The CME has extended special trading incentives for Central Banks. The better to manage your perceptions, my dear.
Friday in a Non-Farm Payrolls day. Let's see how that turns out.
It was funny to hear the talking heads debating with the lollipop guild about the dismal sales results from the big holiday shopping weekend. The one that really cracked me up was the analyst who said that 'the people have plenty of money, they just do not want to spend it.' That one even shook up the anchor spokesmodel out of her walking slumber of never ending exceptionalism.
Have a pleasant evening.
Posted by Jesse at 4:57 PM