22 February 2016

Gold Daily and Silver Weekly Charts - A Spoonfull of Brexit Makes the Pound Go Down

Brexit fears had the British pound on the ropes, with the US dollar index rising commensurately.

Gold and silver were hit in the lightly traded overnight Globex trading, and showed some weakness most of the day.

Wednesday the 24th is the option expiration for the March Comex gold contract.

There was little activity for gold in The Bucket Shop.   The bullion banks keep passing the hot potato around amongst themselves for the most part.

Silver is seeing few deliveries this month, but lots of action in the warehouses as bullion moves in and out.   The difference is that the Comex acts as a physical delivery market for silver, due in large part to CNT's wholesale bullion business.

There is very little physical action in and out with gold, except in Hong Kong.

You can look up the level of the retracement on the chart.

We are looking at 'rescue' dogs, and have an eye on one we like.   This is the first time that we have dealt with this particular group.  (We 'adopted' her this evening.)

This one has had a hard time of it, so much worse than our last one who had merely lost her home and family. This little girl is skin and bones, and her hair was so matted they had to cut almost all of it off.  The way it was sticking out all over the top of her head made her look like Don King.  The shelter gave her a pink 'hoody.'

She is mostly Shih Tzu, and Japanese Chin, and her age is not known.  When their teeth are neglected the vets have trouble estimating age.  Her body is undernourished and it makes her head and eyes look overly large.

I am sure we can address that and her insecurity with time and TLC.   Her last address was a dumpster under a bridge in Elizabeth NJ. Her street name is 'Dolly.'  And she is one of God's creatures.
"Our Lord has no body now but yours,
no hands, no feet on earth but yours.
Yours are the eyes through which He looks
with compassion on this world,
yours are the feet with which He walks to do good.
Yours are the hands,
with which He blesses all the world."

Teresa of Avila
Have a pleasant evening.