09 August 2016

Gold Daily and Silver Weekly Charts - Dollar Lower, Metals Up, Silver in the Lead - Power Coiling

“Love can change a person the way a parent can change a baby—  awkwardly, and often with a great deal of mess.”

Lemony Snicket

"Gentleness is everywhere in daily life, a sign that faith rules through ordinary things...Even in a time of elephantine vanity and greed, one never has to look far to see the campfires of gentle people. Lacking any other purpose in life, it would be good enough to live for their sake."

Garrison Keillor

Even if the opposition party were to nominate a trained chimpanzee, which I do not think is beyond question, I could never find it in my heart to vote for such an iconic figure for almost everything that has gone wrong with the American dream and the Democratic Party as Hillary Clinton.

Never having voted for her or her husband is one of the few things in my life of which I am completely content, and I would hate to lose that slim comfort, especially given the times to come.

Better to vote non-Establishment with a clear conscience, than to have to choose between the banality of narcissistic avarice and his more cunning sister.

Silver led the way higher, moving towards the 20 handle, with gold hanging in to a little more than unchanged.

The dollar gave up some ground which certainly helped.

The Comex stats were so-so.

Some joker was saying that silver is in such an obvious bubble.   So I have included the gold:silver ratio below.   Also the 'technical' indicators for the precious metals.

The metals look to be coiling, and barring a severe market selloff, I think silver is going to be outpacing gold higher. Neither metal is overbought at this point, and their charts are full of power yet to be realized.

Still, all in all the markets are quiet, very much the dog days of Summer.

Have a pleasant evening.