17 December 2015

Gold Daily and Silver Weekly Charts - Gloria In Excelsis Deo

The precious metals' gains from yesterday were smacked lower in the London PM fix and the NY open, as the currency reversal higher in the dollar took down almost the entire commodity index as expressed in the buck.

Gold and silver are now both short term oversold.

There was another large gold delivery 'house to house' at The Bucket Shop from HSBC/Nova to JPM. This has been the theme for this month. I would not be surprised to see JPM continuing to take the role as 'stopper' of customers standing for deliveries.

There will be a quad witching option expiration in the US equity markets tomorrow.

The weather report is for antics abounding.

And next week is Christmas.  Let's see if the annual 'Santa Claus' rally shows up.

Have a pleasant evening.