06 April 2016

Gold Daily and Silver Weekly Charts - Grifters, Conmen, and Grafters

"What good is it, brethren, if someone claims to have faith but does not perform acts of love? Can this kind of faith save them? If a brother or sister is poorly clothed and lacks food, and one of you says to them, 'Go with God, keep warm and eat well,' but do not help them at all to receive what they need, what good is this? So also is faith, which if it does not flourish as acts of love and exists alone with itself, is dead."

James 2:14-16

"The seed sown on rocky ground is the person who hears the word and receives it in faith with joy. But their faith takes no root in their daily lives and actions, and does not endure. When personal sacrifice or persecution come because of the Word, they quickly fall away. And the seed sown among thorns is the person who hears the word and takes it into their hearts, but the struggles of material things and the seductiveness of money choke their faith, so it produces nothing, no fruits."

Matt 13:20-22

There are many dangers in this world. There are those who would have us fall and therein be consumed, our property lost and our children impoverished. And there is surely an evil and ancient corruption that stalks the night, always roaming like a ravening wolf, ready to take us in its grip and be lost.

But there is no greater enemy to ourselves and our life than our own hardened hearts. For they whisper lies to us, they tell us that what is good is impractical and idealistic, and what is wicked is practical and necessary, that this is just what must be done, that this is the way things are.

Gold and silver were under some pressure today, as even the mighty US dollar gave way to the renewed animal spirits and taste for highly leverage financial assets held the day.

If one looks at all the charts the day's action is just more trading motion within some fairly well-defined trend channels.

Let's see if anything can shake these markets up.   Until then while these light volumes remain, the markets will be squiggle driven by trading algos attempting to lure the specs in, and then shake them out again.

If you wish to gamble in this sort of environment you ought to consider going to Las Vegas where the food is better and the drinks are free.

Have a pleasant evening.