08 August 2016

Gold Daily and Silver Weekly Charts - Marking Time In a Dollar World

It certainly seems as though some entities with real clout have had the markets in a virtual lockdown since Brexit.

Gold and silver continue chopping sideways in a relatively tight range, with exceptions for the usual shenanigans, and stocks have been trading in less than 1% moves daily.

The 'deliveries' for gold on the Comex continue, with little action in silver this month, and the usual playing with their food in the precious metals warehouses.

I know, it is a bit boring.  I could just make things up, and maybe one of them would be right.

Or I can skip the legendary predictions game and just say that the metals look quiet, but are continuing to coil, perhaps winding up for a move out of these chart formations.   It is worth watching.

Have a pleasant evening.