Today was the option expiration on the Comex, and those options which are 'in the money' and have not been settled for cash are now converted to March futures positions.
Depending on the size and distribution of those conversions we may see some 'action' in the front month because they are sometimes notoriously weak hands and will receive at least one 'gut check.'
The trends remain as they are, without regard to the short term 'wiggles.'
I made the call for gold, and slightly thereafter silver, based on a fundamental analysis of the US economy and the actions of the Federal Reserve. This was when the prices were 275 and 4.50 respectively. I see no reason to change anything yet.
When the fundamentals change and information becomes more universally disclosed, then the market will clear and reach stability. Until then the safe havens from the dollar credit bubble will continue to go higher in spite of the gimmickry and perception management of the monied interests and their financial engineers. They have been caught with their hands in the cookie jar, and are trying to bluff and rationalize their way out of it to their personal benefit, as they have done throughout their lives.
