08 March 2016

Gold Daily and Silver Weekly Charts - The Waves Break Both Ways

(gesturing to ocean)
See how they break both ways? One guy can break right, one left, simultaneous.
What do you think of that?

I think we ought to wait for the tide to come up.

Apocalypse Now Redux

Gold and silver pulled back a bit from overhead resistance today.

The US dollar closed slightly higher in the DX index which is mostly a Yen-Euro-Pound metric.

The chart formations are all potential for now, with nothing having been resolved yet either way. The 'handle' on the gold chart *could* interpret and resolve as a handle, or an ascending wedge. The probabilities in a heavily politicized market are a bit cloudy.

As the Magic 8 ball says, ask again later.

There was little enough activity at The Bucket Shop yesterday.  And a little bullion was shoved around the warehouses, mostly in silver.

I have mostly given up on a voluntary resolution to our economic and financial troubles.   Reform is not an attractive option when you are winning...

There was intraday commentary for both silver and gold on the 'potential claims per ounce' and 'inflows to Western precious metal publicly disclosed holdings.'

Have a pleasant evening.