23 November 2011

Gold Daily and Silver Weekly Charts - Post Option Expiration Gut Check Doesn't Stick



US stock markets went out on their laws, roiled by a failed bond auction in Germany.

Gold and silver received their traditional post option expiration smackdown, designed to pry any new futures position out of the hands of any specs who happened to have held in-the-money calls after yesterday.

The US will be closed tomorrow, and staffed by junior employees on Friday. So eyes will be on the overseas markets.

Pleasant holiday to the Yanks.