17 February 2016

Gold Daily and Silver Weekly Charts - Gold Shows Some Resilience

Gold and silver were hit early in the overnight, and there was some obvious quote stuffing and other gimmicks in the gold futures to take the price lower. Don't take my word for it, it was Nanex that printed this and showed the data.

And gold once again would not be denied, and held the 1200 level and then some.

Let's see how we keep going in this potential chart formation.

Silver is lagging a bit here, which makes some sense because this is still a 'safe haven' trade despite what Goldman might say about anything.

And as you know, if things continue as they are, I do expect a 'dislocation' in the physical gold market, probably later this year.

Have a pleasant evening.