20 August 2015

Gold Daily and Silver Weekly Charts - Flight To Safety - One More Silver Dollar

Gold and silver got legs today in what was clearly a 'flight to safety' led by gold to the upside.

The US dollar sold off, in a bit of a twist from its usual role as a haven, and helped the price of the gold-dollar cross.

Pet rocks. Who would have thought it?

The metals have a distance to go yet, as is clear from the charts, before they clear the bearish shoals into more bullish waters.

There was no delivery action yesterday at The Bucket Shop® .  What a surprise.

And there was little enough activity in their 'stockpiles of bullion' as noted below in the reports.

There is still room for caution as the paper markets have not suddenly become transparent or honest, or tied closely to the physical supply and demand markets in the East.

And this bear market has taken its toll, along with the steady drumbeat of drivel from the usual sources.   It is sad that so many who had ever dared to see the obvious have been pushed into despair and silent obscurity and given up.

But some are bound to keep on riding.   And the road goes on forever.

Have a pleasant evening.